Yesterday I provided information on CEO pay cuts from some of the largest companies in the US. I did some research tonight to see what companies are paying their CEO's top dollar even in the midst of painful downsizing and economic challenges.
2008 CEO Salaries:
- Michael Jeffries of Abercrombie & Fitch: 39% increase in pay, though the company's stock fell 72% and he cut 9% of staff.
- Mark Hurd of HP: $42.5M. Laid off 6,000 employees in May. Remaining employees face 5% - 15% salary cuts and Murd is taking a 20% cut in 2009. HP stock is up vs the S&P 500.
- James Mulva of ConocoPhillips: $29.4M and almost $100M the previous two years.
- Larry Ellision of Oracle: $56.8M but recently agreed to a $1 salary for 2009.
- Ron Sargent of Staples: $8.4M.
- Vikram Pundit of Citigroup: $10.8M but taking a $1 salary until the company is profitable. 52,000 jobs were lost at Citigroup.
* Information provided by BusinessWeek, Sept 2009.