But they deserve it right? Or the other one I love is, “We have to pay them this much to remain competitive with other corporations in the search for executive talent.” Talent being the key word there.
2010 was a great year to lose your job as a CEO. Four of the 10 highest paid CEOs were retired or departing executives. Ronald Williams, former head of Aetna, a health insurer, exercised 2.4m options for a profit of $50.4m. Aetna’s stock price declined by 70% from when Williams assumed the role of CEO in February 2006 until his retirement. At pharmacy chain CVS, Thomas Ryan made a $28m profit on his options. During Ryan’s 13-year tenure as CEO, CVS Caremark’s stock price decreased almost 54%.
(source: The Guardian)
Dredgers Union Cleveland, Ohio. Inspiring to see people doing great things in OH. I’ll be back.
Ice Cube Celebrates The Eames