10 Companies Piling on the CEO Perks
by Angela Nazworth | May 25, 2012 2:05 pm
In addition to multimillion dollar paychecks[1], America’s top CEOs are rewarded with some spiffy extras such as drivers, personal trainers and use of corporate jets — just to name a few.
Using information from Equilar, an executive compensation data company, The Associated Press[2] reported on some of the perks received last year by several prestigious execs. Here’s an overview of what some companies bestowed on their chief officers.
- Martha Stewart Living Omnimedia (NYSE:MSO[3]): The company provided its eponymous founder with a personal trainer. It also spent more than $73,000 on a weekend driver for Stewart.
- Chesapeake Energy (NYSE:CHK[4]): The company spent more than $121,000 on personal security for CEO Aubrey McClendon. The energy giant also paid $250,000 to help McClendon keep his personal finances in order.
- Wynn Resorts (NASDAQ:WYNN[5]): CEO Stephen Wynn uses the company’s plane for personal travel. Last year this perk cost the company more than $910,000. The company also spent more than $500,000 on Wynn’s Las Vegas suite and gifted him with merchandise discounts totaling more than $70,000.
- Avon (NYSE:AVP[6]): Although she’s been demoted[7], Avon spent more than $145,000 last year on perks for its former CEO, Andrea Jung. That amount included paying for Jung’s personal car insurance and a car-service allowance.
- Coca-Cola (NYSE:KO[8]): The soda-pop giant paid about $13,000 for financial planning services for CEO Muhtar Kent.
- FedEx (NYSE:FDX[9]): FedEx spent about $333,000 in security measures to keep CEO Fred Smith and his family safe.
- Deere & Company (NYSE:DE[10]): CEO Samuel Allen is required to use the company aircraft.
Not all perks are extravagant. Some companies offer perks that are based on business.
- Stanley Black & Decker (NYSE:SWK[11]): The power tool maker gives away company products to execs.
- Goodyear (NYSE:GT[12]): The tire and rubber company gives its top employees two sets of tires a year.
- Walt Disney (NYSE:DIS[13]): The top execs who run the “happiest places on earth,” receive free access to theme parks and some resorts.
More stats about CEO perks are included in the complete report from the AP[14].
Endnotes:
- multimillion dollar paychecks: https://investorplace.com/2012/05/typical-ceos-get-paid-about-3k-an-hour/
- The Associated Press: http://hosted.ap.org/dynamic/stories/U/US_CEO_PAY_PERKS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-05-25-06-05-17
- MSO: http://studio-5.financialcontent.com/investplace/quote?Symbol=MSO
- CHK: http://studio-5.financialcontent.com/investplace/quote?Symbol=CHK
- WYNN: http://studio-5.financialcontent.com/investplace/quote?Symbol=WYNN
- AVP: http://studio-5.financialcontent.com/investplace/quote?Symbol=AVP
- she’s been demoted: https://investorplace.com/2012/04/sheri-mccoy-takes-charge-at-avon/
- KO: http://studio-5.financialcontent.com/investplace/quote?Symbol=KO
- FDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=FDX
- DE: http://studio-5.financialcontent.com/investplace/quote?Symbol=DE
- SWK: http://studio-5.financialcontent.com/investplace/quote?Symbol=SWK
- GT: http://studio-5.financialcontent.com/investplace/quote?Symbol=GT
- DIS: http://studio-5.financialcontent.com/investplace/quote?Symbol=DIS
- complete report from the AP: http://hosted.ap.org/dynamic/stories/U/US_CEO_PAY_PERKS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-05-25-06-05-17
Source URL: https://investorplace.com/2012/05/10-companies-piling-on-the-ceo-perks/