April 6, 2009
Sanjay Jha
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The US has entered 17th straight month of recession, but the pay package of its highest-paid CEO exceeds $100 million (over Rs 500 crore) - a figure more than 10 times that of his counterpart in the country of his birth, where economy is still growing at a decent rate.
America's top earning business head, Motorola's co-CEO is India-born Sanjay Jha, who got a package of $104 million in 2008.
In comparison, India's top-paid business chief, Mukesh Ambani of Reliance Industries, got a total remuneration of Rs 44.02 crore (Rs 440.2 million) in 2007-08, the last fiscal year for which the salary data is available.
Ambani's package is just about one-fifth of the same for even Vikram Pandit, also and India-born person and CEO of banking behemoth Citigroup, which had to seek the US government's support to keep running.
With a total payout of over $104 million in 2008, Jha is the only CEO to get a compensation package exceeding $100 million.
Jha joined Motorola in 2008 and serves as co-chief executive officer of Motorola, Inc. and chief executive officer of Motorola's Mobile Devices business.
He is also a member of Motorola's board of directors. Prior to joining Motorola, Jha served as chief operating officer of Qualcomm Incorporated where he oversaw corporate research and development. Jha began his career at Qualcomm in 1994 as a senior engineer.
Indra Nooyi
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India-born Vikram Pandit, is the 4th highest paid CEO and PepsiCo's Indra Nooyi is ranked 36th with a pay package of $13.98 million.
In India, none of the business executives get paid even $10 million (Rs 50 crore), while there are just about two dozen people getting more than Rs 10 crore (Rs 100 million).
These include RIL's Mukesh Ambani, Sun TV Network's Kalanithi Maran and Kavery Maran, Madras Cement's P R Ramasubrahmanya Rajha, Reliance Communications' Anil Ambani, Ranbaxy Labs' Malvinder Mohan Singh, Bharti Airtel's Sunil Mittal, Jindal Steel's Naveen Jindal, JSW Steel's Sajjan Jindal and Grasim Industries' Kumar Mangalam Birla.
Ray Irani
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Ray Irani comes second among the top paid CEOs. Irani has been chairman and CEO of Occidental since 1990. He was chief operating officer from 1984 to 1990.
He was chairman of the Board of Directors of Nexen Inc. from 1987 to 1999. He is also a director of Wynn Resorts, Limited and TCW Group.
The WSJ CEO Compensation Study is based on an analysis of CEO pay of the first 200 US companies with fiscal year 2008 revenue of at least $5 billion that filed their proxy statements between October 2008 and March 2009.
The median salaries and bonuses for the chief executives of 200 big U.S. companies fell by 8.5 per cent to $2.24 million, according to a study by The Wall Street Journal in association with the Hay Group, a management consulting firm.
Including the awarded value of stock, stock options and other long-term incentives, total direct compensation for chiefs slipped 3.4 per cent to a median of $7.6 million.
Robert Iger
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Irani is followed by Walt Disney's CEO Robert Iger ($49.7 million) at the third position.
Iger is the sixth CEO in The Walt Disney Company's 82-year history.
Iger has also served as president and chief operating officer of The Walt Disney Company since June 2000. Iger is also became a member of Disney's board of directors at this time.
He began his career at ABC in 1974. He officially joined the Disney senior management team in 1996 as chairman of the Disney-owned ABC Group and in 1999, was given the additional responsibility of president, Walt Disney International.
In the wake of the financial meltdown, huge executive compensations at American companies had come in for severe criticism from different quarters. The payouts for chief executives dropped sharply at banks and brokerages.
The survey noted that median annual cash compensation for CEOs in the financial industry fell 43 per cent, to $9,76,000.
Vikram Pandit
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India-born Vikram Pandit is the 4th highest paid CEO with a total compensation of $38.22 million.
He has now vowed to take just $1 as salary till Citigroup returns to profitability.
Pandit was named Citigroup CEO in December 2007 and received three million stock options and almost 1.1 million shares of restricted stock in January 2008 as a signing bonus.
Louis C. Camilleri
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With a total salary package of $36.36 million, Louis C. Camilleri is the 6th highest paid CEO in the US .
Camilleri became chairman and chief executive officer of Philip Morris International on 28 March 2008, following the spin-off of Philip Morris International from Altria Group, Inc.
Prior to this, he had been chairman and chief executive officer of Altria since 2002. He has also served as Altria's senior vice president and chief financial officer since November 1996.
Jack A. Fusco
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Jack A. Fusco is the 6th highest paid CEO with a compensation of $32.40 million.
Jack A. Fusco is the president and chief executive officer of Calpine Corporation and as a member of its Board of Directors since August 10, 2008.
From July 2004 to February 2006, Fusco served as the chairman and CEO of Texas Genco LLC. From 2002 through July 2004, Fusco was an exclusive energy investment advisor for Texas Pacific Group.
He started his career as an operator at power plants in California and has 25 years of experience in the power industry.
Kenneth Chenault
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Kenneth I Chenault, CEO, American Express is the 7th highest paid CEO with a salary package of $28.56 million.
He joined American Express in 1981 as a strategy planner. He became the president and COO in 1997. In 2001, he became the third black CEO of a Fortune 500 company in history.
Gregory Q. Brown
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Gregory Q. Brown, co-CEO of Motorola comes next in the list with a package of $27.49 million. Brown joined Motorola in 2003 and was elected to the company's board of directors in 2007.
Brown oversees the strategic and operational direction of the Illinois based, $30.1 billion telecommunications and enterprise company.
John J Donahoe
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John J Donahoe with a compensation of $24.41 is the 9th highest paid CEO.
Donahoe became the president and CEO of eBay Inc on March 31, 2008. He has the global responsibility for growing each of the company's business units, which include eBay Marketplaces, PayPal and Skype. John came to eBay in February 2005 as president of eBay Marketplaces, responsible eBay's global ecommerce businesses. Prior to eBay, John worked with Bain & Company, a worldwide consulting firm for 20 years.
James T. Hackett
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James Hackett with a total compensation $21.62 million, is the 10th top paid CEO in the US .
Hackett was named president and chief executive officer of Anadarko Petroleum in December 2003, and chairman of the board of the company in January 2006.
Prior to joining the company, Hackett was the chief operating officer of Devon Energy Corporation from April 2003 to December 2003.
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