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Executive Pay:
What The Bosses Make
Susan Kitchens
What about top executives outside of the U.S.? Although their pay on
balance is lower than American CEOs', it can still be hefty. Our list,
compiled this year with the help of two corporate-governance research
groups, notes the boss' compensation at 25 of the top companies by market
cap. We take into account base salary, plus bonuses, benefits, long-term
incentive plans and profits from cashing out on stock options, where that
information was obtainable.
Relying on the most up-to-date information available, U.K.-based Manifest
compiled the data for that nation's companies, while GovernanceMetrics
International, a research and ratings agency headquartered in New York
City, supplied the data for companies on the Continent and in Asia. Their
teams scoured annual reports, 20-Fs (the forms foreign companies must file
to list on a U.S. exchange) and company Web sites to gather the data. (Of
the 25 companies here, 8 had not yet filed 2003 annual reports, so the pay
figures in those cases are from the 2002 reporting year.) British firms
typically get high marks for the most transparent reporting standards,
while some Asian companies disclose nothing at all. In some
cases--Mitsubishi Tokyo Financial and UBS, for instance--the CEO's pay is
lumped together with that of the management board, meaning that we
estimated the top guy's pay based on the aggregate figure.
CEO pay at 25 of the top (Market Cap) companies outside the U.S.
| COMPANY |
CHIEF EXECUTIVE |
TOTAL
COMP
($thou) |
MARKET
CAP
($bil) |
YEAR-TO-DATE
CHANGE IN
STOCK PRICE (%) |
| |
| BP |
Lord Browne of
Madingley |
$5,356 |
$195 |
7.4% |
| |
| HSBC Group |
Stephen K. Green |
2,022 |
165 |
-5.7 |
| |
| Vodafone |
Arun Sarin |
1,798* |
162 |
-5.1 |
| |
| Toyota Motor |
Hiroshi Okuda |
903** |
130 |
4.6 |
| |
| Total |
Thierry Desmarest |
2,720 |
123 |
6.7 |
| |
| GlaxoSmithKline |
Jean-Pierre Garnier |
4,688 |
119 |
-13.1 |
| |
| Novartis Group |
Daniel Vasella |
3,290 |
118 |
-7.8 |
| |
| Nestlé |
Peter
Brabeck-Letmathe |
5,165 |
102 |
1.4 |
| |
| Roche Group |
Franz Humer |
5,569 |
91 |
-0.7 |
| |
| Royal Bank of Scotland |
Fred Goodwin |
3,131 |
91 |
4.6 |
| |
| Nippon Tel & Tel |
Norio Wada |
382** |
90 |
15.6 |
| |
| UBS |
Peter Wuffli |
6,820** |
89 |
8.4 |
| |
| ENI |
Vittorio Mincato |
2,056 |
82 |
7.2 |
| |
| Nokia |
Jorma Ollila |
4,292 |
80 |
-2.5 |
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| AstraZeneca |
Thomas McKillop |
2,926 |
79 |
-2.9 |
| |
| Telefónica |
Cesar Alierta |
102 |
77 |
4.8 |
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| Deutsche Telekom |
Kai-Uwe Ricke |
2,963 |
70 |
-3.6 |
| |
| Unilever*** |
Antony Burgmans |
3,026 |
67 |
4.5 |
| |
| Siemens Group |
Heinrich von Pierer |
3,804** |
67 |
-7.4 |
| |
| Mitsubishi Tokyo Finl |
Shigemitsu Miki |
360** |
65 |
24.6 |
| |
| France Telecom |
Thierry Breton |
1,521 |
60 |
-13.1 |
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| Aventis |
Igor Landau |
3,136 |
60 |
12.6 |
| |
| China Mobile (H.K.) |
Wang Xiaochu |
227** |
59 |
-7.3 |
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| BHP Billiton^ |
Charles Goodyear |
3,544 |
56 |
-1.4 |
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| Banco Santander Central |
Alfredo Saenz |
5,448 |
53 |
-7.7 |
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