SYRACUSE, N.Y. — Gregory Young, chief executive officer of Penn Traffic Co. here, has accepted a 10% reduction in his annual salary, the company said this week. In a filing, the retailer told federal regulators that Young’s salary would be cut to $472,500 from $525,000 for the remainder of the 2010 fiscal year, which began this month. Young can make up the difference as part of his incentive plan, the company added. Read More of Today's Headlines
SIGN IN TO ACCESS THIS ARTICLE
Registering for Premium Content on Supermarket News will give you INSTANT access to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’s FREE, easy and quick.