While folks are protesting Wall Street, the list of the Top compensated CEOs came out this week. Only one on the list number 3. Laurence Fink of BlackRock Inc. actually can be considered working on Wall Street. The other item of note is that out of this list a super majority gave money to Democrats.
24/7 Wall St. obtained the list of companies with the 100 highest paid CEOs from GMI, an independent governance ratings firm. The CEOs’ total compensation includes base salary, perks, cash bonuses, equity awards and any increase in pensions and other retirement benefits. We then looked at the stock performance of these companies during 2010. We got the stock performance data from Capital IQ. Our list is comprised of those companies whose CEOs were among the highest paid during 2010, yet their stocks performed the worst and had the largest price drops that same year. We excluded chief executives who are no longer with their company, like Mark Hurd of Hewlett-Packard (NYSE: HPQ), who might have otherwise made the list.
Once again, this list makes it clear that shareholders who cannot effectively vote to have management removed are saddled not only with those ineffectual executives, but also with their pay packages. The notion of “pay for performance” is still not applied systematically among America’s largest public companies. There is no sign that the SEC or any other regulator is likely to change the method by which CEOs at public companies are compensated, so next year, there will be another 24/7 Wall St. Most Overpaid CEOs.
Read more: America’s Most Overpaid CEOs – 24/7 Wall St..
8. Kevin Sharer – Amgen Inc.
> Total compensation: $21,138,133
7. William Weldon – Johnson & Johnson
> Total compensation: $28,720,491
6. Robert Stevens – Lockheed Martin Corporation
> Total compensation: $21,897,820
5. William Swanson Raytheon Co.
> Total compensation: $18,787,343
4. Miles White – Abbott Laboratories
> Total compensation: $25,564,283
3. Laurence Fink BlackRock Inc.
> Total compensation: $23,839,294
2. Tom Ward SandRidge Energy Inc.
> Total compensation: $21,756,257
1. John Chambers Cisco Systems
> Total compensation: $18,871,875