E-commerce has had a massive effect on just about every aspect of the retail industry; it was only a matter of time before it started to affect executive compensation.
The Wall Street Journal reports that for the first time, retail’s three highest-paid CEOs all came from tech companies, rather than traditional retail chains. TripAdvisor Inc. CEO Stephen Kaufer took home $47.9, making him the top earner among retail-industry CEOs, according to the Journal’s analysis of MyLogIQ pay data. Meanwhile, Booking Holdings, owner of fellow travel sites Booking.com and Kayak, paid CEO Glenn Fogel $27.8 million, and Netflix chief Reid Hastings took home $24.4 million. Fogel and Hastings were numbers two and three, respectively, on the list of highest-paid retail CEOs.
Walmart Inc. CEO Doug McMillon came in fourth, earning $22.8 million, making him the highest-paid CEO from a traditional retail chain. He was followed by Ernie Harmon of TJX, who made $16.8 million; Best Buy chief executive Hubert Joly, who earned $16.7 million; and Gap Inc. CEO Arthur Peck, who took home $15.8 million.
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