Solutia boosts executives’ pay

Solutia Inc., which last month emerged from bankruptcy reorganization, has raised the salaries of five top executives, according to a report filed Friday with the Securities and Exchange Commission.

The board of Town and Country-based Solutia, which makes specialty chemicals and window films, approved the raises on March 11 and made them retroactive to Jan. 1, it said.

Jeffry Quinn, president, chief executive and chairman, is earning base pay of $865,000, up nearly five percent from 2007; James Sullivan, chief financial officer and treasurer, $440,000, a raise of nearly 7 percent.

Jonathon Wright, president of integrated nylon, is earning $420,000, a boost of nearly 4 percent over last year; and James Voss, president of Flexsys, $415,000, an increase of six percent.

Luc De Temmerman, president of performance products, has a 2008 salary of $420,000, which is down about 2 percent over last year when he was paid in Euros and benefitted from favorable exchange rates.