US CEOs break pay record as top 10 earners take home at least $100m each
"For the first time ever, the 10 highest-paid chief executives in the US received more than $100m in compensation last year, and two took home billion-dollar paychecks, according to a leading annual survey of executive pay."
"All told, the top 10 CEOs in this year's poll took home over $4.7bn between them, and for the first time ever, none earned less than $100m.
"I have never seen anything like that," said Greg Ruel, GMI's senior research consultant and author of the report. "Usually we have a few CEOs at the $100m-plus level but never the entire top 10."
Father Seamus Finn, a corporate governance expert at Missionary Oblates of Mary Immaculate, said the numbers were "ridiculous".
"It's an amazing number. Who knows how compensation committees come up with them?"
Finn, who has campaigned against what he sees as excessive remuneration at companies including Goldman Sachs, said boards often argued that they would lose talent unless they paid top management huge sums.
"But I've seen no evidence of that," he said. "These huge pay deals are seldom linked to shareholder returns.""
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