San Antonio Express-News (Sunday)
HOW CEOS OF S.A.’S LARGEST PUBLIC COMPANIES MADE OUT IN 2019.
CEOs at San Antonio’s biggest public companies took home hefty pay packages in 2019 — in some cases, more than 100 times the median pay of their employees.
But the COVID-19 pandemic has put a crimp in executive compensation this year — and going forward, it’s likely to accelerate a shift in C-suite pay packages to give greater weight to employee satisfaction, environmental sustainability and other nonfinancial measurements, experts say.
In 2019, median CEO compensation for S&P 500 companies was $12.3 million, up 4 percent from the year before, according to Equilar. The data firm looked at the compensation of 329 CEOs who had held their positions for longer than two years.
Joseph Gorder was the only San Antonio executive to make the list. He’s been chairman and CEO of Valero Energy Corp. since 2014.
Gorder collected $28.2 million in total compensation last year, according to the company’s filings with the U.S. Securities and
Exchange Commission.
The median salary for Valero employees in 2019 was $113,770. When benefits and other compensation are included, the median was $272,000. A change in pension value accounted for 40 percent of that figure.
Still, Gorder’s total compensation was 103 times greater than the median for employees.
That was a modest gap compared with other big energy companies. Exxon Mobil CEO Darren Woods made 135 times the median compensation of employees at his company in 2019, SEC filings show. Michael Wirth, chairman and CEO of Chevron, took home 236 times the median.
Robert Pittman, CEO of San Antonio’s iHeartMedia Inc., had one of the widest gaps. He collected $22.9 million in total compen