Estimated reading time: 1 minute, 7 seconds

CEOs Making More Than Ever

“Income inequality” has been on a great many politicians’ and economists’ lips lately. It’s likely to be a meme in the 2016 presidential election, and is often used as an argument for raising the minimum wage. At the same time, those lucky enough to occupy the corner C-suite office in an S&P 500 corporation seem to be pulling further and further away from the pack. So reports the International Business Times.

A new study issued by the non-profit As You Sow foundation, which tracks and promotes corporate accountability, indicates that CEO compensation has increased by a staggering 1,000% (yes, that number contains three zeroes) over the past four decades.

To say that figure eclipses median wage raises or increased shareholder value at these same companies would be a gross understatement. Just a sampling of the top 100 overpaid chief executives reads like a corporate “who’s who” across industries: Oracle’s Larry Ellison, already a billionaire, takes in more than $78 million annually; CBS chief Leslie Moonves rakes in just under $67 million; while the chairman of CVS Caremark clocks in over $31 million.

The author of the As You Sow report feels these huge executive compensation packages not only do harm to the organizations, their employees and shareholders; but to their customers, the nation’s economy and society overall.

Read the full article from the International Business Times.

Read 2945 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.