CEOs got biggest raise since 2013
NEW YORK (AP) - The typical CEO at the biggest U.S. companies got an 8.5 per cent raise last year, raking in $11.5 million in salary, stock and other compensation last year, according to a study by executive data firm Equilar for The Associated Press. That’s the biggest raise in three years.
The bump reflects how well stocks have done under these CEOs’ watch. Boards of directors increasingly require that CEOs push their stock price higher to collect their maximum possible payout, and the Standard & Poor’s 500 index returned 12 per cent last year.
The highest-paid executive in the survey was Thomas Rutledge of Charter Communications, which absorbed Time Warner Cable and Bright House Networks last year to become the nation’s secondlargest cable operator. His compensation totalled $98 million, about $88 million of that from stock and option awards included as part of a new five-year employment agreement.