An update from Westlake Chemical (WLK) is now available.
Westlake Corporation’s Compensation Committee has modified the pay structure of Albert Chao as he transitions from CEO to Executive Chairman. Effective July 15, 2024, Chao’s new annual salary is $1,019,000 with a potential bonus of 105% of his salary. His 2024 bonus will reflect his end-of-year salary, and his long-term incentive will align with that of Senior Chairman James Chao, at 400% of the base salary, following a review in February 2025.
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