Kraft boss earns $22m after Cadbury's cuts

Irene Rosenfeld, the controversial boss of US food group Kraft, earned $22m last year after hitting targets tied to cutting costs at Cadbury. Rosenfeld's pay rose by 13.5% after she took home a performance-based bonus reflecting strong turnover growth as well as the savings made at Cadbury, which it acquired in a hostile takeover two years ago. The payout is likely to cause anger as 200 manufacturing jobs are being cut at the confectioner's historic base at Bournville. Rosenfeld's annual performance-based bonus was $4.2m, nearly double the previous year's, after turnover at the snacks company rose 6.6%, beating the 4% target. The company said her bonus related to gaining market share, improving shareholder returns and delivering cost savings related to the Cadbury – which are now expected to exceed the original $750m envisaged – ahead of schedule.