Women CEOs earned more last year, but few were in top job

Cape Breton Post - - Business -

Women CEOs earned big bucks last year, but there’s still very few of them run­ning the world’s largest com­pa­nies.

The me­dian pay for a fe­male CEO was $13.1 mil­lion last year, up 9 per cent from 2015, ac­cord­ing to an anal­y­sis by ex­ec­u­tive data firm Equilar and The As­so­ci­ated Press. By com­par­i­son, male CEOs earned $11.4 mil­lion, also up 9 per cent.

But the num­ber of women in CEO roles has barely budged. Just 6 per cent of the top paid CEOs in the U.S. last year were women, ac­cord­ing to the Equilar and AP anal­y­sis, a slight in­crease from about 5 per cent in 2015 and 2014.

The high­est paid woman was Vir­ginia Rometty of In­ter­na­tional Busi­ness Ma­chines Corp., bump­ing out Ya­hoo’s Marissa Mayer from the top spot.

Rometty earned $32.3 mil­lion last year from the tech­nol­ogy com­pany, a 63 per cent jump from the year be­fore, mainly due to $12.1 mil­lion in stock op­tion awards she didn’t re­ceive in 2015.

Mayer earned $27.4 mil­lion last year, mak­ing her the sec­ond-high­est paid woman. But she may be out of a job af­ter Ya­hoo Inc. com­pletes the sale of its web­sites and email ser­vices to Ver­i­zon Wire­less in June. She’s not ex­pected to join Ver­i­zon, and Ya­hoo has said Mayer will re­ceive a $23 mil­lion

sev­er­ance pack­age if she de­parts.

Third on the list was In­dra Nooyi of Pep­siCo Inc., the maker of Moun­tain Dew soda and Lay’s potato chips. She earned $25.2 mil­lion, up 13 per cent from 2015.

She was fol­lowed by Mary Barra, the CEO of automaker Gen­eral Mo­tors Co., who earned $22.4 mil­lion.

On the bot­tom of the list was Su­san Story of Amer­i­can Wa­ter Works Co., the util­ity com­pany, who earned $4.1 mil­lion.

To cal­cu­late pay, Equilar added salary, bonus, perks, stock awards, stock op­tion awards and other types of com­pen­sa­tion. Equilar only looked at com­pa­nies in the Stan­dard & Poor’s 500 in­dex that filed proxy state­ments with fed­eral reg­u­la­tors be­tween Jan. 1 and April 30, 2016.

And it only in­cluded CEOs that have been in their roles for at least two years in or­der to ex­clude sign-on bonuses. Of the 346 CEOs in that group, just 21 were women.

The only black woman on the list, Xerox’s Ur­sula Burns, left the CEO role in Jan­uary af­ter the doc­u­ment man­age­ment com­pany split in two.

Burns, who earned $13.1 mil­lion as CEO last year, is now chair­man of Xerox Corp.’s board.

Gra­cia Mar­tore, who earned $8.5 mil­lion last year, an­nounced ear­lier this month that she will re­tire as CEO of Tegna Inc., the TV sta­tion owner and op­er­a­tor. Her re­place­ment is a man.

Ex­perts say com­pa­nies need to do more to get women into CEO roles.

Jan­ice El­lig, the co-CEO of ex­ec­u­tive search firm Chadick El­lig, says “un­con­scious bias” in the work­place is keep­ing women from get­ting op­por­tu­ni­ties that will put them on track to for top roles.

Com­pa­nies need to “start rec­og­niz­ing that gen­der in­equal­ity ex­ists,” say El­lig, who is also chair­per­son of the Women’s Fo­rum of New York.

“If you don’t rec­og­nize a prob­lem, you can’t solve a prob­lem,” she says.

AP PHOTO/RICHARD DREW, FILE

In this April 30, 2015, file photo, IBM CEO Vir­ginia Rometty par­tic­i­pates in a news con­fer­ence at IBM Wat­son head­quar­ters, in New York. Rometty was one of the high­est paid CEOs and the top paid fe­male CEO in 2016, ac­cord­ing to a study car­ried out by ex­ec­u­tive com­pen­sa­tion data firm Equilar and The As­so­ci­ated Press.

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