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Pandemic or no, CEO pay rises again. Typical package: $12.7 million
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Last Updated: May 28, 2021, 07:41 PM IST
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Synopsis
As a result, pay packages rose yet again last year for the CEOs of the biggest companies, even though the pandemic sent the economy to its worst quarter on record and slashed corporate profits around the world.
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As COVID-19 ravaged the world last year, CEOs big pay packages seemed to be under as much threat as everything else. Fortunately for those CEOs, many had boards of directors willing to see the pandemic as an extraordinary event beyond their control. Across the country, boards made changes to the intricate formulas that determine their CEOs pay - and other moves - that helped make up for losses created by the crisis.