Summary of Annual Base Salaries for Named Executive Officers of Worthington Industries, Inc.
Worthington Industries, Inc. approved new annual base salaries for its named executive officers, effective June 26, 2011. The officers and their respective salaries are: John P. McConnell (CEO) at $625,000, George P. Stoe (President/COO) at $600,000, B. Andrew Rose (CFO) at $400,000, and Mark A. Russell (President, Worthington Steel) at $420,000. Harry A. Goussetis, another named executive officer, retired on July 31, 2011, and received a base salary of $53,333 for June and July 2011.
Exhibit 10.45
ANNUAL BASE SALARIES APPROVED FOR NAMED EXECUTIVE OFFICERS
OF
WORTHINGTON INDUSTRIES, INC.
Effective June 29, 2011, the Compensation and Stock Option Committee of the Board of Directors of Worthington Industries, Inc. approved the base salaries for the named executive officers identified below, which base salaries became effective June 26, 2011.
| Name and Principal Position | Base Salary | |||
| John P. McConnell | ||||
| Chairman of the Board and Chief Executive Officer | $ | 625,000 | ||
| George P. Stoe | ||||
| President and Chief Operating Officer | $ | 600,000 | ||
| B. Andrew Rose | ||||
| Vice President – Chief Financial Officer | $ | 400,000 | ||
| Mark A. Russell | ||||
| President – The Worthington Steel Company | $ | 420,000 | ||
Harry A. Goussetis, the other named executive officer of the Registrant for purposes of this Annual Report on Form 10-K, retired effective July 31, 2011. He received a $53,333 base salary for the months of June and July 2011.
