Wednesday, July 21, 2004

CEO pay continues to increase

Title: CEO pay continues to increase despite debate and regulations
Source: Knight Ridder News
Date: July 2, 2004

From the article:
    "Much has been said in the past couple of years, but in effect, little has been done about the increasingly high incomes of the nation's chief executive officers.

    Last year, CEOs of S&P 500 companies earned a median of 27.16 percent more in total compensation than in 2002, when the median CEO earned 11.48 percent more than the previous year."
Examples given in the article include:
  • Reuben Mark, CEO of Colgate-Palmolive, brought home the highest earnings - $141 million...

  • In San Antonio, SBC CEO Edward E. Whitacre Jr. received the greatest total compensation - $19.5 million, a 93 percent increase over his 2002 compensation package...

  • Valero CEO William E. Greehey came in a close second, with an $18.8 million compensation package, a 152 percent increase over his pay package the previous year.
See also: Executive compensation is "seriously off-track".


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