Biz Bits: Clearwater Paper brass earn less in 2021 – Lewiston Morning Tribune

6250de4aa05f6.image ProxyEgg Biz Bits: Clearwater Paper brass earn less in 2021 - Lewiston Morning Tribune

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The annual compensation package of Clearwater Paper’s top executive was valued at $3.5 million in 2021, a drop of about half a million from the previous year.

The pay of Clearwater Paper President and CEO Arsen Kitch and the company’s other top four executives was disclosed in the company’s proxy statement filed earlier this month with the federal Securities and Exchange Commission.

“Our compensation philosophy remains consistent and straightforward — pay our executives competitive and fair compensation that is linked to individual and company performance,” said Clearwater Paper spokeswoman Shannon Myers in an email.

“Executive compensation is determined by an independent committee of the company’s board of directors that has its own compensation consultant which bases its recommendations on market data,” she said. “We have a third-party consultant that sets pay based on market and individual factors.”

One of the biggest differences in Kitch’s pay for 2021 compared with 2020 was a cash bonus, which was $693,000 in 2021, down from $1.12 million in 2020, according to the proxy statement.

“(Kitch’s) annual bonus was lower in 2021 based on year-end business performance to goals, which are set at the beginning of each year,” Myers said.

Kitch took his present position in April 2020, just when the COVID-19 pandemic accelerated demand for one of Clearwater Paper’s main products, toilet paper. The company finished 2020 with $77 million in earnings.

That peak was followed by challenges in 2021, when the company ended the year with a loss of $28 million.

In addition to private-label tissue, Clearwater Paper manufactures paper napkins, paper towels, facial tissue and paperboard that is used for items such as paper dishes and packages for goods like medicines and cosmetics.

Kitch wasn’t the only Clearwater Paper executive who made less in 2021 compared with 2020. The compensation packages of the other four top executives all took a dip.

Annual compensation packages in 2021 for the four were: Senior Vice President and Chief Financial Officer Michael Murphy, $1.29 million; Senior Vice President and General Manager of the Pulp and Paperboard Division Steve Bowden, $1.15 million; Senior Vice President General Counsel and Corporate Secretary Michael Gadd, $1.30 million; and Senior Vice President of Human Resources Kari Moyes, $1.06 million.

Momma K’s debuts in Clarkston

A downtown Clarkston restaurant is going by a new name.

What had been Jawbone Flats Cafe is now Momma K’s Restaurant at 902 Sixth St. after Michael and Kayla Lupinacci acquired the eatery.

They are serving the same food as Jawbone Flats, said Kayla Lupinacci, who is the wife of Michael Lupinacci.

One of the most popular menu items is a plate of chicken-fried steak, two eggs, hashbrowns and toast, she said. Its regular price is $13. It is on special on Wednesdays for $6.

Michael Lupinacci cooked for Waffles n’ More for 16 years and then Jawbone Flats before becoming an owner of the business.

They have named the restaurant after Kayla Lupinacci. Momma K is what children in their neighborhood and their children’s friends call her.

Like her husband, she has experience in the hospitality industry. She was a server at Strike & Spare Bar and Grill in Lewiston and Station 3 in Clarkston before becoming a stay-at-home mom to care for their four children.

Momma K’s is open from 6 a.m. to 2 p.m. Tuesday through Saturday and 7 a.m. to 2 p.m. Sundays.

Third book in series by local author and illustrator introduced

A children’s cookbook starring one of Clarkston’s most famous dogs has sold more than 100 copies since it was released in March.

“Two Kinds of Pie” features Posie, the canine mascot of Patt’s Garden Center in Clarkston. It has easy-to-prepare recipes for sweet and savory snacks as well as a recipe for dog treats, said Kate Patterson, the book’s author and retail manager of Patt’s, in an email.

The book was illustrated by Sam Coulter, a graphic communications instructor at Lewis-Clark State College.

It sells for $9.99 and is available at Patt’s. The response to the book has been good even though a couple of the recipes had errors, she said.

“When I issued a correction (on social media), everyone responded with things like ‘All the best recipes have scribbles on them,’ which was a major relief to me,” Patterson said.

Their earlier books about Posie were “P is for Posie” and “Posie, You’re a Gem.”

BlueCross of Idaho hires executives

MERIDIAN – Two executives have joined BlueCross of Idaho.

Janice Baker is serving as the insurance provider’s senior vice president of human resources and chief human resources officer.

Sameer Sonalkar is the new senior president for information technology and chief infor-mation officer.

Baker was previously the chief human resource officer at OneOncology in Nashville, Tenn., where she oversaw human resources for more than 4,000 employees.

Sonalkar’s most recent position before BlueCross was serving as the business area vice president and digital transformation head for XcelEnergy in Minneapolis.

Parent company of Lewiston ammunition manufacturer earns award

Vista Outdoor is one of 400 businesses on Newsweek’s list of America’s most trusted companies for 2022.

The Minneapolis-area-headquartered Vista Outdoor is the parent company of 39 brands that design, manufacture and market sporting and outdoor products, including the CCI/Speer ammunition manufacturing operation in Lewiston.

The companies on Newsweek’s list were identified through an independent survey based on a sample of about 50,000 U.S. residents. Newsweek and Statista, a statistics portal and industry ranking provider, presented the honor.

“(Trust) infuses how we design and sell products that customers rely on, the way we interact internally with our more than 6,000 employees and the integrity that guides our customer, supplier and investor relationships,” said Vista Outdoor’s CEO Chris Metz in a news release about the recognition.

Union slowdowns target of proposed federal law

U.S. Sen. Jim Risch, an Idaho Republican, has introduced legislation with the goal of preventing labor slow downs to protect the national supply chain during upcoming maritime union negotiations. 

“American businesses have experienced severe hardships and costs caused by ongoing supply chain disruptions,” Risch said in a news release.

“As labor negotiations at ports get underway, the PLUS Act will ensure businesses are not held hostage and left to foot the bill if a labor dispute occurs,” he said.

Additional co-sponsors of the act include fellow Republican Sens. Mike Crapo of Idaho and Rick Scott of Florida.

Among those who support the proposed legislation is Lewiston Port Manager David Doeringsfeld.

He blames union slowdown practices in 2015 for essentially ending container barging on the Snake and Columbia rivers, which hauled commodities such as dried peas and lentils to Portland, Ore.

Bulk grain barging continues on the waterways and is a primary way that wheat raised in north central Idaho and southeastern Washington reaches Portland, where it is loaded onto vessels heading overseas.

The Tribune wants to hear about what’s happening at your business. Send your news to [email protected]. Please put “Biz Bits” in the subject line.

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Source of this news: https://lmtribune.com/business/biz-bits-clearwater-paper-brass-earn-less-in-2021/article_03caba26-be8e-5693-91f9-fd4034905a23.html

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