Last year was an unusual one for executive pay as the impact of the Covid-19 pandemic upended boards’ best-laid plans.
Many companies publicized decisions to cut executive salaries to show solidarity with laid-off or furloughed employees, while others converted cash payments to equity to preserve liquidity. Year over year, average cash compensation for S&P 500 execs was down 2%, according to data from public company intelligence provider MyLogIQ.
But not for everyone. In some cases, the turmoil wrought by Covid resulted in large cash payments to executives in the form of severance pay, conversions from equity to cash, retention bonuses and other comp vehicles. While many boards may have expected compensation practices to return to normal for 2021, it’s unclear whether the pandemic has truly subsided; the need to tap into otherwise unusual pay methods may not be in the rearview mirror yet.
Boards have been steadily reinforcing their ranks through the addition of more directors with military…
Governance Professionals Caution Against Knee-Jerk Reactions to Shifting Political Winds Meta Platforms added Dana White,…
Where CEO pay climbed and performance sank last year Danaher and United Parcel Service were…
As artificial intelligence grows more accessible, boards may have no choice but to embrace it…
A look at the demographics and skills of S&P 500 directors. Corporate boards have greater…
Companies with independent directors who've served on the board for more than 15 years are…