Monday, March 08, 2004

CEO Pay spiraling upward

Title: Market Watch: The C.E.O.'s Mad, Mad World
Source: NY Times
Date: March 7, 2004

From the article:
    According to a preliminary analysis of 2003 executive compensation by Watson Wyatt Worldwide, a benefits consulting firm, the trend for C.E.O. pay is still up, up, up.
    Edward E. Whitacre Jr., chairman and chief executive of SBC Communications. Mr. Whitacre was awarded $19.5 million in salary, bonus, long-term incentive pay, restricted stock and other compensation last year, up from $10.1 million in 2002.
    Then there is John Tyson, chairman and chief executive of Tyson Foods, the giant meat and food producer. Last year, he received $20.9 million in compensation and 1.2 million stock options. In 2002, he received $7.6 million and 200,000 options.
4,000 SBC employees and 6,000 Tyson employees lost their jobs in 2003.


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