Shares of Howard Schultz’s Starbucks were up 50% last year. Allergan CEO Brent Saunders completed a $70 billion acquisition, one of the largest deals of the year. And earnings at Apple rose 20% in 2015 under CEO Tim Cook, including a single quarter worth $18 billion—marking the most profitable three months ever at a public company.
So which of these CEOs do you think walked away with the biggest raise of 2015? None of them.
That title went to Sandeep Mathrani, the CEO of General Growth Properties. (Cook’s income rose, too, in 2015, by $1 million to nearly $10.3 million.)
General Growth, though, didn’t break any records with its performance in 2015. Both sales and operating profits at the mall operator fell slightly. And unlike Starbucks—where CEO Howard Schultz’s compensation actually fell nearly $1.4 million last year—the company’s stock performance was not in the top five of the S&P 500 last year. It wasn’t even in the top 100. In the past year, shares of General Growth (GGP) are up just 0.7%, making it the 190th-best-performing stock in the index.
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