After receiving national attention over its CEO’s choice of words, national homebuilder KB Home is slapping Jeffrey Mezger’s wrists.
The Los Angeles-based company said in a regulatory filing on Sept. 21 that the executive will receive a 25 percent reduction to his annual bonus — and that he will be fired if any similar incident occurs again, the Los Angeles Times reported.
It’s unclear how much that will impact the executive, who hasn’t received a bonus since 2014. His executive compensation totaled $9 million last year in salary and awards, according to filings.
Mezger has been in the national spotlight since Sept. 16, when he was caught in an audio recording yelling profanity-ridden insults at his neighbors, comedian Kathy Griffin and her longtime boyfriend Randy Bick. The couple had called the police to report the loud noise coming from the executive’s Bel Air property.
The incident prompted scolding from Griffin’s peers in Hollywood. TV host and financial advisor Suze Orman wrote on Twitter, “Disgraceful talk from the CEO of KB HOMES. You really want to buy a home from this man? Beyond Disgusting!”
A previous statement from the publicly-traded KB Home said Mezger apologized to Griffin. [LAT] – Natalie Hoberman