Tom Glocer gets nearly $20 million payoff

Most of Glocer’s $19.9 million payoff is part of his regular compensation for 2011 including stock options, long term incentives and a base salary of $1.5 million, the company said in a filing with the US Securities and Exchange Commission on Tuesday.

Glocer left Thomson Reuters at the end of 2011 after the company underwent a series of structural changes and management shakeups to address lacklustre sales of one of its key products, Eikon, and a declining stock price.

He was replaced by James Smith, a veteran Thomson executive who joined the Canadian newspaper group in 1987. Smith’s base salary is $1.5 million. His compensation could include an additional $7 million in cash and stock depending on the performance of the company. In 2011 Smith’s total compensation was $10.5 million, which included options and share base awards, when he served as professional division head and later as its chief operating officer.

Reuters editor-in-chief Stephen Adler received a base salary of $636,923 in 2011 and a one-time grant of options that helped boost his compensation to $2.7 million. ■