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Recession? US CEOs earned $126 million in bonuses

Last updated on: March 18, 2011 15:56 IST

Recession? US CEOs earned $126 million in bonuses

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As many as 50 American chief executives have received a total of $126 million in bonuses in 2010, a 52 per cent jump from previous year.

"The 50 CEOs in the sample collected a total of $126.1 million in 2010 bonuses, up from about $83 million a year earlier," the Wall Street Journal report said, citing a report by business consulting firm Hay Group.

Interestingly, CEO bonuses at these corporations jumped a median of 30.5 per cent, the biggest gain in at least three years.

Hay Group reviewed proxy statements filed since October 1 by companies with at least $4 billion in annual revenue.

Top executives collect a lot of different types of pay, including salaries, long-term equity awards and bonuses tied to company's performance.

Bonuses in general are rebounding as some hard-hit industries like autos recover and corporate profits climb.

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Image: CEO bonuses rose 52 per cent.
Photographs: Reuters
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Recession? US CEOs earned $126 million in bonuses

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Robet A. Iger: $13.5 million

Robert A. Iger, CEO of Walt Disney Company, the largest media and entertainment conglomerate in the world in terms of revenue, earned $13.5 million for the year ended October 2.

That represents a 45.4 per cent increase.

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Image: Robert A Iger received 13.5 million.
Photographs: Reuters
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Recession? US CEOs earned $126 million in bonuses

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Jeffrey Immelt: $4 million

Jeffrey Immelt, CEO, General Electric, an American conglomerate corporation incorporated in New York, picked up a $4 million cash bonus for 2010 after skipping payments the previous two years, when profit dropped.

General Electric operates through five segments: Energy Infrastructure, Technology Infrastructure, Capital Finance and Consumer and Industrial.

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Image: Jeffrey Immelt received $4 million.
Photographs: Reuters
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Recession? US CEOs earned $126 million in bonuses

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Robert G. Bohn: $2.4 million

Robert G Bohn, CEO, Oshkosh, collected a $2.4 million bonus in the year ended September 30, up from $527,813 the prior year at the maker of specialty vehicles and other products.

The company said the bonus was mainly based on gains in operating income.

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Image: Robert Bahn received $2.4 million.
Photographs: Reuters
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Recession? US CEOs earned $126 million in bonuses

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Danile Ustain: $1.95 million

Daniel Ustian, CEO, Navistar, got a $1.95 million one-time bonus for developing a business model that kept the company profitable in the midst of the worst truck market in 50 years.

The special award was in addition to a regular $1.95 million bonus.

Navistar owns the manufacturer of International brand commercial trucks, MaxxForce brand diesel engines, IC Bus school and commercial buses, Workhorse brand chassis for motor homes and step vans, and is a private label designer and manufacturer of diesel engines for the pick-up truck, van and SUV markets.

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Image: Daniel Ustian received $1.95 million.
Photographs: Reuters
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Recession? US CEOs earned $126 million in bonuses

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Howard Schultz: $3.5 million

Howard Schultz, CEO, Starbucks, pocketed a $3.5 million bonus for the year ended October 3.

The bonus, his biggest ever, far surpassed the $1 million the coffee giant bestowed the year before.

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Image: Howard Schultz received $3.5 million.
Photographs: Reuters
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Timothy L. Main: $2.9 million

Timothy L. Main, CEO, Jabil Circuit, received a $2.9 million bonus for its year ended August 31, more than five times his $524,103 award the prior year.

Jabil Circuit is a provider of electronics manufacturing services. Jabil designs and manufactures electronic circuit boards for a diverse group of industries including automotive, computing and storage, consumer products, medical, networking, peripherals and telecommunications.


Image: Timothy Main received $2.9 million.
Photographs: Reuters
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