Arkansas Business reported that Bond "received compensation valued by the company at about $4.9 million in fiscal 2008, according to an analysis of a proxy statement filed [December 30] with the Securities and Exchange Commission. Last year his compensation was valued at $12.9 million."
Whatever the reasons behind the administrative changes, Bond is leaving with class. "After seven years of helping lead or leading the world's largest meat company, I have decided it is in both my best interest personally, and the best interest of the company for me to move on and pursue other interests," he said.
This is the second announced change in major corporate management seen in Northwest Arkansas during recent weeks. Lee Scott told Wal-Mart that he will retire as president and CEO as of the close of business on January 31, and the Board has elected Mike Duke as his replacement.