Les Moonves, the former CEO of CBS who was ousted last month over multiple accusations of sexual harassment, turned out to be the fifth highest paid CEO in the U.S. in 2017, according to the latest review of CEO salary data by nonprofit research group Conference Board in partnership with Gallagher and MyLogIQ.
Moonves, 68, earned $69.3 million last year It was a slight dip from his 2016 pay of $69.6 million, but still put him among the top five highest paid CEOs of 2017. Others in the top five include Hock Tan of Broadcom ($103 million), Frank Bisignano of First Data ($102 million), Michael Rapino of Live Nation Entertainment ($70.6 million) and Mario Gabelli of Gamco Investors ($69.4 million).
The majority of these CEOs’ compensation was paid in the form of stock awards. (The cash salary for Broadcom’s Tan, the highest paid CEO of 2017, was $1.1 million.) Moonves earned $43.7 million in stock awards and options, $20 million in cash bonuses and the rest from his fixed salary.
Stock awards are increasingly adopted by company boards as a major portion of a CEO’s compensation package, the Conference Board’s report found, in an effort to better align pay and performance over the long term.
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