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5 Top-Paid CEOs at Unprofitable Companies

Their business lost money, but they still made millions

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CashRich185It’s easy and common for folks to decry the huge pay of chief executives, especially as the gap between their giant paychecks and those of everyday workers just keeps on growing.

Heck, John Hammergren of McKesson Corp. (MCK) was the star of last year’s Forbes list of top-paid CEOs and brought home a total of $131.2 million. That’s more money than I can even fathom.

But in his defense, at least his company made money.

Indeed, the bulk of that compensation package was thanks to stock gains, as MCK climbed more than 30% over the course of the year. Meanwhile, JCPenney‘s (JCPRon Johnson made 1,795-times the average wage and benefits of his store’s workers when he was hired … and then proceeded to drive the stock right into the ground.

Similarly, Bloomberg shows that numerous big-name head honchos took home millions in 2012, all while their businesses were bleeding cash. Here are five CEOs who sailed to paychecks of more than $10 million last year, when their companies didn’t even post a profit.

Article printed from InvestorPlace Media,

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