Tech's top-paid CEOs
By Ann Bednarz,
Network World |
May 20, 2014 11:24 AM
PT
Fifteen tech leaders made more than $14 million apiece in 2013.
Median pay among CEOs at the 100 largest U.S. companies was $13.9 million last year, an increase of 9% over the prior year, according to compensation expert Equilar. How does that compare to the tech/telco industry? We examined 62 tech CEOs’ pay packages -- including salary, bonuses, incentive awards, and perks -- and found 15 current tech leaders whose 2013 pay exceeded the median ($13.9 million) in the Equilar 100 CEO Pay Study. The 15 highest-paid tech CEOs represent a wide range of industry players, including hardware makers, software companies, service providers, and telecommunications companies.
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Larry Ellison
CEO, Oracle
$78.4 million
Oracle’s chief executive is often on the top of the pay rankings, and in 2013, his supersized package was worth $78.4 million. As usual, the bulk of Larry Ellison's compensation is equity based. He received option awards valued at $76.9 million. He also received a token $1 salary and $1,126 bonus. (He declined a $1.2 million performance-based cash bonus.) On the perks front, Oracle paid a $1.5 million tab to secure Ellison's residence. Compared to a year earlier, when Ellison netted $96.2 million, the value of his 2013 pay package is down 18%.
Dan Hesse
CEO and president, Sprint
$49.1 million
A giant grant of restricted stock and options awards -- valued at a combined $34.1 million at the time they were granted -- drove Dan Hesse’s compensation up to $49.1 million in 2013. That’s more than quadruple the value of his 2012 pay package (worth $11.1 million). His total package also included a $1.2 million salary, $13.4 million bonus, and $372,078 in perks and other compensation. Hesse’s $13.4 million bonus is the largest cash award among the 62 CEO pay packages we studied.
Brian Roberts
CEO and chairman, Comcast
$31.4 million
Comcast chief executive Brian Roberts had the biggest salary of all 62 CEOs whose pay we studied: $2.8 million. His 2013 cash compensation also included a $9.2 million bonus. On the equity front, Roberts received stock awards valued at $4.3 million and option awards worth another $5.3 million. Rounding out his $31.4 million pay package, Roberts received $5.1 million attributed to deferred compensation earnings, $3.5 million in company contributions to his deferred compensation plan, and $192,177 for personal use of company aircraft.
Paul Ricci
CEO, Nuance
$29.2 million
Paul Ricci, CEO of speech recognition company Nuance Communications, made 21% less in 2013 than he did the prior year, yet he still landed a pay package worth $29.2 million. The bulk of that is a grant of stock awards valued at $27.9 million. Ricci’s total compensation also included his $800,000 salary, $300,000 bonus, and $226,829 in perks and other compensation.
Marissa Mayer
CEO, Yahoo
$24.9 million
Despite a significant pay cut, Marissa Mayer still ranks among tech’s highest paid CEOs. Mayer took a 32% pay cut in her first full year as Yahoo’s top executive, landing a pay package worth $24.9 million. Her total compensation included a $1 million salary, $1.7 million bonus, equity awards valued at $22.2 million, and $73,863 in perks and other compensation. She received $36.6 million a year earlier.
Randall Stephenson
CEO, president and chairman, AT&T
$23.2 million
Randall Stephenson’s 2013 pay package was 5% bigger than his year-earlier compensation. Valued at $23.3 million, it included his $1.6 million salary, $5 million bonus, and stock awards worth $13.4 million. Stephenson also received $522,202 in perks and other compensation, and $2.7 million attributed to a change in pension value and nonqualified deferred compensation earnings.
Marc Benioff
CEO and chairman, Salesforce.com
$22.1 million
Marc Benioff’s compensation spiked 25% in 2013, mainly due to a larger equity award. His total pay, valued at $22.1 million, included a $1 million salary, $1.3 million bonus, option awards valued at $18.9 million, and $934,829 in perks and other compensation. Among the perks Salesforce.com provided is personal and residential security for Benioff, at a cost of $654,829.
Mike Lawrie
CEO and president, CSC
$21.3 million
In his first full year at the helm of CSC, Mike Lawrie collected a $21.3 million pay package. His compensation included a $1.3 million salary, $3 million bonus, equity awards valued at $16.6 million, and $442,921 in perks and other compensation.
John Chambers
CEO and chairman, Cisco
$21 million
John Chambers saw his compensation nearly double last year, topping $21 million. In 2012, he received $11.7 million. The biggest boost to his pay came in the form of stock awards valued at $15.2 million (compared to $7.3 million in 2012). Chambers also received a $4.7 million cash bonus, and his salary rose from $375,000 in 2012 to $1.1 million in 2013. The remainder of Chambers' 2013 pay package consists of $11,769 in perks and other compensation.
Meg Whitman
CEO and president, HP
$17.6 million
HP CEO Meg Whitman landed a 15% pay boost to $17.6 million in 2013. Her compensation package included a $1 salary, $260,000 bonus, equity awards valued at $17.1 million, and $275,334 in perks and other compensation. Hired to revitalize HP, Whitman has drawn a $1 salary since 2011. But not anymore. For 2014, HP’s board approved a salary of $1.5 million. Whitman’s base pay was increased to make her salary “consistent with the median of our peer group,” HP said in a filing with to the U.S. Securities and Exchange Commission.
Scott McGregor
CEO and president, Broadcom
$15.9 million
Up 6% from a year earlier, Scott McGregor’s total pay for 2013 was valued at $15.9 million. His compensation included a $977,154 salary, $1.6 million bonus, stock awards valued at $13.3 million, and $5,100 in perks and other compensation.
Lowell McAdam
CEO and chairman, Verizon
$15.8 million
CEO of Verizon since late 2011, Lowell McAdam saw a 13% increase in his pay last year, as total compensation for him climbed to $15.8 million. His package included a $1.5 million salary, $4.1 million bonus, stock awards valued at $9.4 million, and $780,874 in perks and other compensation. McAdam also received $64,886 attributed to a change in pension value and nonqualified deferred compensation earnings.
Shantanu Narayen
CEO and president, Adobe
$15.7 million
A 31% raise drove Shantanu Narayen’s compensation up to $15.7 million last year. His total package included a $941,667 salary, $1.6 million bonus, stock awards valued at $13.1 million, and $19,211 in perks and other compensation.
Pat Gelsinger
CEO, VMware
$14 million
In his first full year as CEO of VMware, Pat Gelsinger received a $14 million pay package. His total compensation included his $850,001 salary, $1.3 million bonus, equity awards valued at $11.8 million, and $75,323 in perks and other compensation.
Ginny Rometty
CEO, president and chairman, IBM
$14 million
Ginny Rometty gave up her annual bonus last year -- a concession that led to a 14% pay cut for IBM’s CEO. Rometty’s 2013 pay package, valued at $14 million, included a $1.5 million salary, stock awards valued at $11.7 million, and $761,808 in perks and other compensation. Rometty announced she was passing up her annual bonus at the same time the company reported its full-year results -- including a 5% decline in annual revenue to $99.8 billion. “While we made solid progress in businesses that are powering our future, in view of the company’s overall full year results, my senior team and I have recommended that we forgo our personal annual incentive payments for 2013,” Rometty said.
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