CFO.com Special Compensation Report: Including Top Ten Paid Chief Executives.Business/Technology Editors NEW YORK--(BUSINESS WIRE)--Aug. 6, 2002 In a year when the tech bubble A bit in bubble memory or a symbol in a bubble chart. burst, the Sun finance king ruled along with Tyco's chief while others take on added responsibility and reduced pay CFO See Chief Financial Officer. .com, the online arm of CFO magazine, and Mercer Human Resource Consulting Mercer Human Resource Consulting is a human resource consulting firm that publishes the oft-quoted "Worldwide Cost of Living Survey." External links
New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , today announce the release of their annual "CFO Compensation Special Report." The survey was based on analysis of 350 finance executives at the largest public companies and looked at all forms of CFO compensation. The Special Report highlights that CFOs total earnings have slowed considerably in the past year, due in part to the reduction in stock option value and other non-cash incentives. Median total direct compensation (TDC TDC Top Dead Center TDC Time-to-Digital Converter TDC Tabular Data Control TDC Total Development Cost TDC Texas Department of Corrections TDC The Discovery Channel TDC Torpedo Data Computer TDC Theater Deployable Communications ) for finance chiefs last year was a cool $961,000, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Survey. But for CFOs hoping to one day make as much as their bosses, the survey has some sobering so·ber adj. so·ber·er, so·ber·est 1. Habitually abstemious in the use of alcoholic liquors or drugs; temperate. 2. Not intoxicated or affected by the use of drugs. 3. news. For the last five years, median total CFO compensation has hovered persistently at 40 percent of chief executive pay; more detail can be found at: www.cfo.com/cfopay.
Ten Top-Paid CFOs
(all dollar amounts are in thousands)
Total Total
Executive Annual Gain on Total Direct
and Base Comp- Option Long-Term Comp-
Company Salary Bonus ensation Exercise Incentives ensation
Michael E.
Lehman,
Sun
Microsystems $600 $0 $600 $36,027 $36,601(a) $37,201
Change from
2000 -4% -66% -8%
Mark H. Swartz,
Tyco
International $969 $2,500 $3,469 $13,700 $28,900(b) $32,368
Change from
2000 26% 60% -48%
Larry R. Carter,
Cisco Systems $424 $0 $424 $29,009 $29,009 $29,433
Change from
2000 10% -66% -40%
Anthony S.
Thornley,
Qualcomm $529 $350 $879 $19,408 $19,408 $20,287
Change from
2000 10% 3% 168%
James G.
Stewart,
Cigna $702 $600 $1,302 $9,424 $14,133(c) $15,434
Change from
2000 5% -17% 127%
Dennis L.
Winger,
Applera $427 $202 $629 $7,969 $11,985(d) $12,614
Change from
2000 4% -22% 60%
M. Scot
Kaufman,
MBNA $1,600 $3,601 $5,201 $0 $5,540,625(e) $10,742
Change from
2000 8% 16% 10%
David L.
Shedlarz,
Pfizer $773 $737 $1,510 $4,047 $7,908(f) $9,417
Change from
2000 11% 6% 56%
David A.
Viniar,
Goldman
Sachs $600 $8,381 $8,981 $0 $0 $8,981
Change from
2000 0% -21.3% -21.3%
John R.
Joyce,
IBM $519 $650 $1,169 $4,696 $5,436(g) $6,065
Change from
2000 N/A N/A N/A
a. Includes $573,442 in long-term incentive plan payouts.
b. Includes $15,199,440 in restricted stock grants.
c. Includes $2,841,500 in restricted stock grants and
$1,867,000 in long-term incentive plan payouts.
d. Includes $4,015,688 in restricted stock grants.
e. Includes $5,540,625 in restricted stock grants.
f. Includes $3,861,000 in long-term incentive plan payouts.
g. Includes $740,480 in long-term incentive plan payouts.
For the complete story on the biggest earner of 2000 and 2001 as well as, what CFOs can expect in the near-term visit www.cfo.com/cfopay About CFO.com CFO.com is a division of The Economist Group. Launched in 2000 to address the changing needs of senior financial executives and reaches more than 200,000 financial executives. CFO.com is the first and only online resource providing the most up-to-date information for trends in corporate finance, strategies and breaking news. Today's CFOs need a source that goes beyond general information and provides the tools and insights that help them excel in managing their demanding roles. CFO.com's editorial content and applications are developed in conjunction with financial executives around the world to ensure the most relevant information is accessible instantly anywhere there is a connection to the Internet. www.cfo.com About Mercer Human Resource Consulting Mercer Human Resource Consulting is a global firm that helps organizations create measurable business results through their people. With more than 13,500 employees serving clients from 142 cities in 40 countries worldwide, the company is part of Mercer mer·cer n. Chiefly British A dealer in textiles, especially silks. [Middle English, from Old French mercier, trader, from merz, merchandise, from Latin merx , a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Marsh & McLennan Companies, Inc., which lists its stock (ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors : MMC See MultiMediaCard and Microsoft Management Console. ) on the New York, Chicago, Pacific, and London stock exchanges London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . |
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