The stock awards that Elon Musk got for running Tesla lost nearly $10 billion in value last year. Stock declines erased $237 million in compensation for Expedia’s boss and roughly $149 million for Amazon.com Chief Executive Andy Jassy. …The numbers show that in 2022 about two-thirds of the top executives at S&P 500 companies ended… Continue reading CEO Pay Packages Fell Sharply in 2022, the First Decline in a Decade
Category: USA Today
Alphabet, Fox and Netflix CEOs Were Among the 50 Highest Paid CEOs in 2019
As companies around the world struggle to mitigate the damage caused by the coronavirus pandemic, executive leadership is being put to the test. CEOs are facing intense scrutiny for how and when they are reopening their companies. While 2020 might see a freeze in CEO salary, 2019 was a good year for executive pay, as many chief executives were rewarded with huge compensation packages, often worth more than $20 million per year.
24/7 Wall St. reviewed information provided by public business information company MyLogIQ to determine the 50 highest paid CEOs of 2019. CEOs were ranked based on their total compensation, which typically includes salary, bonuses, stock options, and more. Median employee pay by company was also provided by MyLogIQ.
Many corporate leaders have to make difficult choices to help their companies through the pandemic — particularly those in vulnerable industries like oil and gas or entertainment. Many executives in these sectors have furloughed workers, scaled back operations, and reduced their own pay — like GE CEO Lawrence Culp who said he will forgo his salary for the rest of the year. These are the U.S. industries being devastated by the coronavirus.
CEO Salaries: These Were the 50 Highest Paid CEOs in 2019
As companies around the world struggle to mitigate the damage caused by the coronavirus pandemic, executive leadership is being put to the test. CEOs are facing intense scrutiny for how and when they are reopening their companies. While 2020 might see a freeze in CEO salary, 2019 was a good year for executive pay, as many chief executives were rewarded with huge compensation packages, often worth more than $20 million per year.
24/7 Wall St. reviewed information provided by public business information company MyLogIQ to determine the 50 highest paid CEOs of 2019. CEOs were ranked based on their total compensation, which typically includes salary, bonuses, stock options, and more. Median employee pay by company was also provided by MyLogIQ.
Many corporate leaders have to make difficult choices to help their companies through the pandemic — particularly those in vulnerable industries like oil and gas or entertainment. Many executives in these sectors have furloughed workers, scaled back operations, and reduced their own pay — like GE CEO Lawrence Culp who said he will forgo his salary for the rest of the year. These are the U.S. industries being devastated by the coronavirus.
These Are the Highest-Paid Corporate Board Members in the U.S.
At a number of major American companies, compensation for board of director members has come under fire from shareholders in recent years. While director salaries remain a small fraction of CEO salaries (these are the highest paid CEOs at America’s largest companies), they have steadily risen over the past decade. In several recent instances, shareholders have even pursued litigation against – what they consider to be – excessive board compensation.
According to data from public company intelligence provider MyLogIQ, the average compensation of nonexecutive board chairpersons at Russell 3000 companies was $330,782 in fiscal 2018. At 18 public companies, the nonexecutive chair of the board made over $1 million.
At a public company, the board of directors is a supervisory body appointed by shareholders to act on their behalf and oversee the activities of management. The chairperson is chosen by the board and is typically responsible for setting the agenda and presiding over meetings. While some companies have combined CEO-chair roles, the majority of large corporations separate the two positions, maintaining certain checks and balances between the branches of corporate governance.
McDonald’s CEO Makes an Hour What the Average Worker Makes a Year
McDonald’s Corp. has been among the American companies that pay its workers the least. As some evidence of the ongoing pay problem at the fast-food chain, the U.S. Securities and Exchange Commission has released the compensation of McDonald’s CEO Stephen Easterbrook. He was paid $15.9 million in 2018. That is 2,124 times the median employee salary of $7,473. It means that Easterbrook, who has been CEO since 2015, earns in an hour what it takes a median employee to make in a year, according to data from public company intelligence firm MyLogIQ.
Easterbrook’s pay ratio is the sixth highest among chief executives included in MyLogIQ’s data. In our earlier report on the 100 highest-paid CEOs, Easterbrook was No. 57. It is not the first year he has been paid well. He made $21.8 million in 2017.
McDonald’s has approximately 210,000 workers worldwide, and over 36,000 locations. In its recent proxy statement, the company said that its median employee in 2018 was a part-time restaurant crew employee located in Hungary. The company had revenue of $21 billion last year, down 7% from 2017. Net income was $5.9 billion, up 11%.
These CEOs Make 1,000 Times More Than Their Employees
Income inequality is a growing problem in the United States. In cities across the country, the rich are getting richer while the poor are getting poorer. Perhaps nowhere is the problem more apparent than in the corporate world. In some of the largest and most recognizable global companies, chief executives earn in less than an hour as much as their typical employee earns in an entire year.
MyLogIQ, a data aggregator of public companies, recently released a report comparing total CEO compensation to median employee compensation for companies on the S&P 500 index. 24/7 Wall St. reviewed the report to identify the 13 companies where the CEO makes at least 1,000 times the salary of their typical employee.
These immense differences in compensation between CEOs and their typical employees in some cases are the product of extremely high CEO compensation – over $100 million in one case. More often, however, it is a combination of large CEO pay (the lowest is $8.8 million) and very low median employee annual pay, as many of these companies employ part-time or seasonal workers. Indeed, some of these companies rank among those that owe their employees a raise.
25 Companies That Pay Their Board of Directors a Shocking Amount
At one time, being a member of the board of directors of an S&P 500 company might have meant attending a few meetings a year, having some meals at the company’s expense, and scoring a nice stipend. Those days are probably over for most publicly traded U.S. companies as demands for board oversight have been… Continue reading 25 Companies That Pay Their Board of Directors a Shocking Amount