KB Home CEO insulted neighbor, company cuts his bonus 25%
READ MORE eak]
From SEC filing:
"On September 20, 2017, the board of directors (“Board”) of KB Home (“Company”) determined that the bonus payment Jeffery T. Mezger, the President and Chief Executive Officer of the Company, would have otherwise been entitled to receive for fiscal year 2017 shall be reduced by 25 percent.
"Jeffrey Mezger has always conducted himself in a professional manner during his tenure at KB Home.
"He has been a very effective CEO and a great leader for the Company. Mr. Mezger has the full and complete confidence of the Board.
"However, Mr. Mezger’s recent behavior in his personal dealings with a neighbor is unacceptable and a negative reflection on KB Home. As a result, the Board has decided to take the following actions:
"1) Mr. Mezger’s bonus payment for the current year shall be reduced by 25 percent; and
"2) The Board has informed Mr. Mezger that if in the future there is any similar incident, he will be dismissed." ■
What to read next