CEO Watch CEO Compensation Up in 2007
The median pay raise for the nations top CEOs rose 7.5 percent in 2007, representing the lowest rate of increase in six years, according to the Corporate Library.
The increase represented the first single digit percentage change since the corporate governance group began compiling data in 2001.
The rise in total annual compensation – base salary, bonuses, perks and equity-based compensation was due to profits from stock options, according to CNNMoney.com.
Larry Ellison of Oracle Corp. was the nation's highest paid CEO, with and annual total compensation of $192 million the report added. Ellison received a base salary of $1 million, while the remaining compensation came in the form of stock options.
IAC/InterActive's Barry Diller was the nation's second highest CEO with a total compensation of $184 million. Angelo Mozilo, the former CEO of Countrywide Financial, came in third on the list with a total compensation of $124 million.
Some highly compensated CEOs increased shareholder value at their firms, but others had not.
"The presence of the CEOs of six financial services companies in the (top 30) table also comes as something of a surprise given that sector's current woes, particularly the presence of Angelo Mozilo," said the group, according to AFP.
Other findings:
- Profits from stock options contributed significantly to the compensation of all but three of the top 30 highest-paid CEOs in the survey, despite the general move away from stock options.
- The top four highest paid executives are Lawrence Ellison of Oracle, Barry Diller of IAC/Interactive, Angelo Mozilo of Countrywide Financial and Margaret Whitman of eBay.
- CEOs from six financial services companies appear on list of the top 30 highest-paid CEOs in the survey.
