Economy

KB Home To Cut CEO's Bonus By 25%

KB Home To Cut CEO's Bonus By 25%”

KB Home did not respond to a request for further comment.

In audio released by the Huffington Post, Mezger called comedian Kathy Griffin a "f--ing c--", "a b--", an "a-hole" and a "f--ing bald dyke." The company is also cutting his bonus for the current year by 25 percent.

FILE - In this October 29, 2007, file photo, KB Home CEO Jeffrey Mezger speaks during a panel discussion on the subprime market fallout in Beverly Hills, Calif.

KB Home's CEO will see his year-end bonus cut after being caught on audio Saturday night yelling a string of profanities at comedian Kathy Griffin and her boyfriend.

But KB Home's board, which is responsible for holding its CEO accountable, stopped short of firing Mezger, its chief executive since 2006.

FILE - This Sept. 21, 2011, file photo, shows a KB Home sign in a vacant lot in Balch Spring, Texas.

Mezger later called Bick and berated him for making the complaint-the incident was recorded on Bick's security cameras.

The board of KB Home also threatened to fire chief executive Jeffrey Mezger "if in the future there is any similar incident", it said in a statement, according to CNBC.

The directors wrote: "Mr. Mezger's recent behavior in his personal dealings with a neighbor is unacceptable and a negative reflection on KB Home". Namely, his annual bonus will be slashed by 25 percent, reports the L.A. Times. The spokesman claims that the actions included 10 separate noise complaints made by Griffin and Bick.

There has been some backlash against the executive since the vulgar, two-minute outburst was first aired by HuffPost.

It is not immediately known how much Mezger stands to lose. In that year, Mezger received a bonus of $125,000. Mezger, who became CEO of the home builder in 2006, was paid US$1mln in salary and nearly US$8mln in stock and option awards and incentive compensation previous year.



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