Median CEO pay rises to $12.7M as pandemic ravages U.S. economy
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From left, Brian Niccol, CEO of Chipotle, Advance Auto Parts CEO Tom Greco and Carnival Corp. CEO Arnold Donald. Pay packages rose yet again in 2020 for the CEOs of the biggest U.S. companies, even though the pandemic sent the economy to its worst quarter on record and slashed corporate profits around the world. (Associated Press files)
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NEW YORK — 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 l ...
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