CEOs got big­gest raise since 2013

Cape Breton Post - - Business Business -

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.

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