Indra Nooyi, Sanjay Jha among highest paid CEOs in US: Report

By Arun Kumar, IANS,

Washington : Five Indian Americans, including PepsiCo chief Indra Nooyi and Motorola Mobility’s Sanjay Jha, are among the highest paid CEOs in the US, according to a new survey of the 350 biggest U.S. companies.

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Besides Indian-born Nooyi and Jha, the three other Indian origin CEOs on the list are OfficeMax CEO Ravi Saligram, Quest Diagnostics’ Surya Mohapatra and Citigroup’s Vikram Pandit.

The median value of salaries, bonuses and long-term incentive awards for CEOs of 350 major companies surged 11 percent to $9.3 million, according to a study of proxy statements conducted for The Wall Street Journal by management consultancy Hay Group.

Viacom Inc. CEO Philippe P. Dauman topped the list. He received compensation valued at $84.3 million, more than double his 2009 pay, thanks largely to equity awards in a renewed contract.

Nooyi’s total direct compensation in 2010 was $13.78 million, which included her salary of $1.3 million dollars, annual incentives of $3 million, stock option grants of $3.23 million and performance awards totalling $6.25 million. Nooyi’s compensation, however, declined 0.2 percent from 2009.

Saligram earned a total compensation of $12.03 million in 2010 that included a salary of $121,000, stock option grants of $9.21 million and restricted stock grants of $2.26 million.

Jha’s total direct compensation was $11.92 million. His 2010 salary was $900,000 dollars and he earned annual incentives of $1 million and about $10 million in stock options and restricted stock grants.

Mohapatra, whose company is the leading provider of diagnostic testing and services, earned $10.39 million in total compensation that included a salary of $1.23 million and annual incentives of $1.2 million.

His stock options, restricted stock grants and performance awards totalled about $8 million. Mohapatra’s total compensation declined 3.7 percent from 2009.

Pandit comes in last in the list as he earned no compensation in 2010, following his decision to take a $1 annual salary and no other compensation until Citi returns to “sustained profitability”.

(Arun Kumar can be contacted at [email protected])