PepsiCo's India-born chief Indra Nooyi and Motorola Mobility's Sanjay Jha are among the highest paid CEOs in the US, according to new estimates that say salaries and bonuses for chief executives running 350 major companies surged 11 per cent to USD 9.3 million in 2010.
Executives at the biggest US companies saw their pay jump sharply in 2010, as boards rewarded them for strong profit and share-price growth with bigger bonuses and stock grants, the Wall Street Journal said
in its latest CEO Compensation survey.
in its latest CEO Compensation survey.
According to the companies' proxy statements studied for the Journal by management consultancy Hay Group, the median value of salaries, bonuses and long-term incentive awards for CEOs of 350 major companies grew 11 per cent in 2010. This increase followed a year in which "pay for the top boss was flat at these companies".
In the 350-strong list, Nooyi is among the five CEOs of Indian-origin at the helm of major US corporations. Giving her company on the highest paid CEO list is OfficeMax CEO Ravi Saligram, Motorola's Jha and Quest Diagnostics' Surya Mohapatra. Citigroup's Vikram Pandit comes in last in the list since he earned no compensation in 2010, following his decision to take a $1 salary per year and no other compensation until Citi returns to "sustained profitability".
Apple boss Steve Jobs also came in at the rear of the list as he too did not take any compensation or salary for 2010.
Nooyi's total direct compensation in 2010 was USD 13.78 million, which included her salary of USD 1.3 million dollars, annual incentives of USD 3 million, stock option grants of USD 3.23 million and performance awards totalling USD 6.25 million. Nooyi's compensation however declined 0.2 per cent from 2009.
Saligram, who heads the office supplies giant, earned a total compensation of USD 12.03 million dollars in 2010 that included a salary of USD 1.21 lakh , stock option grants of USD 9.21 million and restricted stock grants of USD 2.26 million.
Jha's total direct compensation was USD 11.92 million. His 2010 salary was USD 9 lakh dollars and he earned annual incentives of USD 1 million and about USD 10 million in stock option and restricted stock grants.
Mohapatra, whose company is the leading provider of diagnostic testing and services, earned USD 10.39 million in total compensation that included a salary of USD 1.23 million and annual incentives of USD 1.2 million. His stock option, restricted stock grants and performance awards totalled about USD 8 million. Mohapatra's total compensation declined 3.7 per cent from 2009.
0 comments