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Median pay for chief executives of the biggest U.S. companies slipped 4.6% last year, but the link between annual compensation and shareholder returns remained weak.
US social-gaming company Zynga hasn’t just given its new chief executive a pay package worth as much as $100 million over five years. It has also structured the package in a way that could encourage him to try to sell the company sooner rather than later.
We recently told you about four companies ignoring their shareholders’ votes. One was Hecla Mining, a silver producer that held the polls open longer than planned when it looked like shareholders were going to reject management’s pay package.
The vote is only advisory, but Hecla’s stalling worked: Instead of failing 49.6% to 46.7%, the company’s say-on-pay vote passed with 53.7% of the vote.
Air Products & Chemicals got some press recently when it was held up as an example of corporate America’s renewed dedication to paying CEOs only if they perform.
Vikram S. Pandit worked as Citigroup‘s chief executive for just under five years. But during that time, he earned a good deal less than what other Wall Street chieftains made.
There are a number of ways to look at Mr. Pandit’s compensation from 2007 through 2011, according to an analysis that the research firm Equilar performed for DealBook.
Weeks before Vikram S. Pandit’s surprise resignation on Tuesday as chief executive of Citigroup, the banking giant’s powerful chairman, Michael E. O’Neill, was privately huddling with other board members to plan how to replace him, according to several people briefed on the talks.