US chief executives are on track to reap record rewards this year, raising the prospect of fresh clashes with investors and employees as the gap between their earnings and those of their staff widens to a historic multiple in the wake of the Covid-19 pandemic.
For the 280 S&P 500 companies that have reported figures this year, the median chief executive’s pay has jumped to a record $14.2mn for 2021, up from $13.5mn in 2020, according to ISS Corporate Solutions, a data provider.
Equilar, another data company that tracks chief executive rewards at the biggest companies by revenue, said the median among 196 companies that have reported this year has rocketed 20 per cent to $14.3mn, after having dipped to $12mn in 2020.
Among the largest executive pay packages to have been announced were David Zaslav’s $247mn at Discovery, Pat Gelsinger’s $178.6mn at Intel and Andy Jassy’s $212.7mn at Amazon — which was made public the same day workers in New York voted to form Amazon’s first US union.
Among the largest executive pay packages to have been announced were David Zaslav’s $247mn at Discovery, Pat Gelsinger’s $178.6mn at Intel and Andy Jassy’s $212.7mn at Amazon — which was made public the same day workers in New York voted to form Amazon’s first US union.
Financial Times, 03 April 2022
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