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SMG » Topics » Compensation Peer Group

This excerpt taken from the SMG DEF 14A filed Dec 20, 2007.
Compensation Peer Group
 
For the 2007 fiscal year, the Company utilized the same compensation peer group as had been utilized in the 2006 fiscal year. This peer group consisted of approximately 60 consumer-oriented companies as a reference for determining competitive total compensation packages for the CEO and other key management employees. The compensation benchmark data for the 2007 fiscal year peer group was determined by applying a 4% annual growth rate assumption to the survey data that was initially compiled in the 2005 fiscal year. To account for the wide range of companies included in the 2005 survey, the data was statistically adjusted by an


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outside survey company to more closely reflect the size and complexity of the Company. The 2007 fiscal year compensation peer group was comprised of the following companies:
 
             
3M
  A. T. Cross Company   Alberto-Culver Company   Allergan, Inc.
Andersen Corporation
  Anheuser-Busch Companies, Inc.   Avery Dennison Corporation   Avon Products Inc.
Bausch & Lomb Incorporated
  Bayer, AG   The Black & Decker Corporation   Briggs & Stratton Corporation
Bristol-Myers Squibb Company
  Campbell Soup Company   Cargill, Incorporated   The Clorox Company
The Coca-Cola Company
  Colgate-Palmolive Company   ConAgra Foods, Inc.   Deere & Company
Diageo North America, Inc. 
  The Dial Corporation   Eastman Kodak Company   Fortune Brands, Inc.
Gap Inc. 
  General Mills, Inc.   The Gillette Company   The Goodyear Tire & Rubber Company
H. J. Heinz Company
  Hallmark Cards, Inc.   The Hershey Company   Hexion Specialty Chemicals, Inc.
Johnson & Johnson
  Johnson Outdoors Inc.   Kellogg Company   Kimberly-Clark Corporation
Kohler Co. 
  Land O’ Lakes, Inc.   Lennox International Inc.   Levi Strauss & Co.
Lorillard Tobacco Company
  Masco Corporation   Maytag Corporation   Molson Coors Brewing Company
NIKE, Inc. 
  PepsiCo, Inc.   Phillip Morris USA   The Procter & Gamble Company
Reynolds American Inc. 
  S.C. Johnson & Sons, Inc.   Sara Lee Corporation   Schering-Plough Corporation
The Sherwin-Williams Company
  Tupperware Brands Corporation   Unilever United States, Inc.   UST Inc.
The Walt Disney Company
  Whirlpool Corporation   Wm. Wrigley Jr. Company   Wyeth
 
At the direction of the Compensation and Organization Committee and in conjunction with the Company’s compensation consultants, a new, more focused compensation peer group was developed in the 2007 fiscal year with the goal of enabling the Company to more closely benchmark the total compensation packages of the CEO and other NEOs with the types of companies that the Company typically competes with to attract and retain executive talent. This new peer group, which has been approved by the Compensation and Organization Committee and which will be utilized by management and the Compensation and Organization Committee for the 2008 fiscal year and beyond, consists of the following companies:
 
             
Acco Brands Corporation
  Alberto-Culver Company   The Black & Decker Corporation   The Clorox Company
Del Monte Foods Company
  Energizer Holdings, Inc.   The Hershey Company   The J. M. Smucker Company
Jarden Corporation
  McCormick & Co., Inc.   Newell Rubbermaid Inc.   Revlon, Inc.
The Stanley Works
  The Toro Company   Wm. Wrigley Jr. Company    
 
The Compensation and Organization Committee believes this peer group of highly regarded consumer oriented companies reflects the pay practices of the broader consumer products industry, and is more reflective of the size and complexity of the Company. In general, the new 2008 fiscal year peer group reflects companies that range between $1.0 billion and $6.5 billion of annual revenues. The annual revenues for the Company are slightly below the median revenues of the new peer group.
 
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