Sunday, June 24, 2018

CEOs Pay Approved by 95% of Shareholders

Chief executives at the biggest US public companies got an 8.5 percent raise last year, bringing the median pay package for CEOs to $11.7 million. So far, shareholders seem OK with the pay packages for CEOs.

Liz Shuler, secretary-treasurer of the AFL-CIO, commented “Companies are asking their workers to do more with less, at the same that CEO pay is on the rise.”

At Yum! Brands, CEO Greg Creed’s pay of $12.3 million was 1,358 times higher than the company median of $9,111. The employee who earned that amount, on an annualized basis, was a part-time employee at a Taco Bell restaurant.
Leslie Moonves of CBS. He made $68.4 million, including a $20 million bonus. 
W. Nicholas Howley at TransDigm, which designs and produces aircraft components. He earned $61 million, including $51.2 million of payments from the company on stock options he holds, as if they had earned dividends.
Jeffrey Bewkes of Time Warner was the fourth-highest paid CEO at $49 million.
TripAdvisor’s Stephen Kaufer, at $43.2 million. He received grants of options and restricted stock valued at $42.1 million, 
Even at United Rentals, where the median pay was $77,127 last year, it would take a worker earning that amount 166 years to match the $12.8 million in compensation that CEO Michael Kneeland made last year. 
At both Yum! Brands and United Rentals, more than 95 percent of shareholders approved their CEOs’ pay for last year. Across the S&P 500, such votes on executive compensation passed with similar approval ratings in 2016 and 2017, at 95 percent.

No comments: