CEO raises, pay cuts; What a change 1 year makesMay 23, 2013 @ 8:33 am
(AP) - Here's a look at the CEOs that received the biggest raises and the biggest pay cuts in 2012 compared with 2011, as calculated by the executive pay research firm Equilar and The Associated Press.
Whose pay rose the most:
1. Ronald Havner Jr., Public Storage, $15.4 million, up 456 percent
2. Dara Khosrowshahi, Expedia, $14.4 million, up 309 percent
3. Ralph Izzo, Public Service Enterprise Group (parent of PSE&G), $8.4 million, up 217 percent
4. Michael White, DirecTV, $17.9 million, up 212 percent
5. Carol Meyrowitz, TJX Companies (parent of T.J. Maxx and Marshalls), $19.1 million, up 198 percent
Public Storage, DirecTV and TJX Companies turned in higher earnings and revenue. At Expedia, earnings fell but revenue rose and the stock soared. At Public Service Enterprise Group, earnings and revenue were both down. The company partly attributed Ralph Izzo's pay raise to a calendar quirk, which moved the date that it pays out his long-term incentive award.
Whose pay fell the most:
1. Rodney Sacks, Monster Beverage, $799,000, down 93 percent
2. David Simon, Simon Property Group, $17.2 million, down 87 percent
3. John Daane, Altera, $5.5 million, down 81 percent
4. Gregory Brown, Motorola Solutions, $10.3 million, down 65 percent
5. Donald Slager, Republic Services, $5.4 million, down 63 percent
Monster Beverage says its board doesn't automatically grant stock awards each year. David Simon's pay went down because his board gave him a one-time retention package in 2011, then valued at $132 million _ and kept it in place even after shareholders voted against it. Altera, Motorola Solutions and Republic Services cut their CEOs' pay after shareholders came close to rejecting the pay packages at last year's meetings.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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