October 15, 2008, 12:00 AM

VistaPrint execs book nearly $7 million in total pay for fiscal 2008

Online custom printing products and services retailer VistaPrint paid its top five executives almost $7 million in total compensation for fiscal 2008. That was an increase of about 36% compared with fiscal 2007 compensation.

Online custom printing products and services retailer VistaPrint Ltd. paid its top five executives $6.96 million in total compensation for fiscal 2008. That was an increase of about 36% compared with fiscal 2007 combined compensation of $5.11 million.

VistaPrint president, CEO and chairman of the board Robert Keane topped the earnings list for the fiscal year ended Aug. 30, with a pay package worth about $2.31 million. His compensation comprised a base salary of $400,000, stock option awards of $1.19 million and other compensation totaling $724,805.

Executive vice president and chief financial officer Harpreet Grewal received about $1.85 million in total pay. His pay package was composed of $250,000 in base salary, $568,000 in option awards and about $1.03 million in shares of stock, incentives and other compensation in FY 2008. Grewal resigned as CFO in early September.

Wendy Cebula, president of VistaPrint North America, received $895,971 in total pay for fiscal 2008, as did Janet Holian, president of VistaPrint Europe. Cebula’s base pay was $250,000 and options awards were $295,860. Incentives, stock shares and other pay added up to about $350,000. Holian’s pay breakdown was identical.

Executive vice president and chief people officer Anne Drapeau was paid about $1 million for fiscal 2008. Her pay was made up of $250,000 in base salary, $491,250 in options awards and $268,205 in incentives and other pay. She resigned from the company in late September.

For the 2008 fiscal year, VistaPrint, No. 57 in the Internet Retailer Top 500 Guide, posted a 57% increase in sales while net income rose by 47%. In fiscal 2008, VistaPrint recorded net income of $39.8 million on sales of $400.7 million, compared with net income of $27.1 million on sales of $256 million in fiscal 2007.

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