Ex-Walmart CEO Mike Duke retired with $140 million in deferred compensation. Over the five years Duke led Walmart, his total CEO compensation is impressive. Meanwhile, the average 55-to-64-year-old (Duke is 64) with both a 401(k) and IRA had an average of $261,400 in retirement savings at the end of 2013. While Mike Duke enjoys a comfortable retirement, the average retiree pinches pennies to make it work.
It hardly seems fair. And while my dad always use to tell me (correctly) that life’s not fair, that doesn’t mean we should like it or put up with it.
Duke is a classic example of what’s wrong with executive compensation today, but Walmart isn’t alone. Although 83% of Coca-Cola (KO) shareholders approved its CEO compensation plan, it’s clear that major shareholders such as Warren Buffett have serious misgivings. And so they should.
What other companies are dolling out excessive CEO compensation? Here are five examples of wildly overpaid CEOs.