CEOs in NC see pay increase even with bad returns
June 24, 2012 17:09 GMT
CHARLOTTE, N.C. (AP) — A third of North Carolina’s 50 largest publically traded companies paid their CEOs more in the 2011 fiscal year despite poor returns for shareholders.
An analysis of top executive pay by The Charlotte Observer (http://bit.ly/MOjW2i ) found nine CEOs that did better for shareholders ended up with lower pay during the year.
The newspaper found the median CEO salary for the 50 top executives in the state rose nearly 7 percent in 2011, to $795,000.
The North Carolina CEO with the biggest yearly increase in pay was Robert Toth, head of Charlotte-based Polypore International. A $13.4 million multiyear stock option award in 2011bumped his salary up 727 percent to $15.2 million. He was also the highest paid executive on a publically traded company in the state.
Information from: The Charlotte Observer, http://www.charlotteobserver.com