These 12 Executive Chairmen Earn More Than Their CEOs

mort zuckerman

For all the yelling about CEO pay, they sometimes don’t make the big company bucks.

And in more than a dozen cases, the board member who makes the most at the business adds relatively little value.

A new report from research firm The Corporate Library names a dozen Executive Chairs who were paid more than the CEOs of their companies — even though they did not have operational responsibilities.

(An Executive Chair is someone who leads  the  Board  of  Directors  as  an  employee  of  the  company,  but isn’t the CEO.)

In all, more than one‐third (35%) of the 112 cases studied, Executive Chairs were paid more than the CEOs of their companies. Many of these Executive Chairs had some kind of operational title. However, more than a dozen did not, but still earned more than the chief executive.

According to the report, four of them “also received perquisites from their companies, such as personal use of company aircraft, personal use of company-provided car and driver, and country club dues.”

For example, Mort Zuckerman, Executive Chair of Boston Properties, made nearly $1 million more than the CEO of Boston Properties in 2008, according to the report. This difference includes more than $125,000 in  value for the use of a company-provided car and driver, while no other executives named in the proxy receive such a benefit.

“Perquisites like these raise concerns that the other directors may be finding it difficult to refuse requests from a powerful board Chair,” said Senior Research Associate Annalisa Barrett, author of the report. “If this is the case, questions arise about whether they will be able to act independently in other matters related to shareholders’ interests.”

See the chairs who make more than their CEOs >

[slideshow]
[slide
permalink=”meridian-bioscience-inc-1″
title=”Meridian Bioscience, Inc.”
content=”Executive Chair: William Motto

Pay: $817,788

CEO: John Kraeutler

Pay: $815,621

Difference: $2,167

Photo: www.meridianbioscience.com
image=”http://static.businessinsider.com/image/4b1fdb6b00000000003ba5aa/image.jpg”
caption=””
credit=””
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]
[slide
permalink=”hq-sustainable-maritime-industries-inc-2″
title=”HQ Sustainable Maritime Industries, Inc.”
content=”Executive Chair: Lillian Li

Pay: $364,550

CEO: Norbert Sporns

Pay: $298,000

Difference: $66,550

Photo: www.hqfish.com
image=”http://static.businessinsider.com/image/4b1fde7f0000000000967ac4/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”bonton-stores-inc-3″
title=”Bon‐Ton Stores, Inc.”
content=”Executive Chair: Tim Grumbacher

Pay: $2,021,185

CEO: Byron L. Bergren

Pay: $1,931,985

Difference: $89,200

Photos: investors.bonton.com
image=”http://static.businessinsider.com/image/4b1fe1380000000000e77811/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”republic-bancorp-inc-4″
title=”Republic Bancorp, Inc.”
content=”Executive Chair: Bernard Trager

Pay: $794,988

CEO: Steve Trager

Pay: $545,089

Difference: $249,899

Photo: www.republicbank.com

image=”http://static.businessinsider.com/image/4b1fdbd6000000000056bbc4/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”first-marblehead-corporation-5″
title=”First Marblehead Corporation”
content=”Executive Chair: Peter Tarr

Pay: $1,972,611

CEO: Daniel Meyers

Pay: $1,647,097

Difference: $325,514

Photo: www.firstmarblehead.com
image=”http://static.businessinsider.com/image/4b1fe36c0000000000ab20a9/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”weis-markets-inc-6″
title=”Weis Markets, Inc.”
content=”Executive Chair: Robert Weis

Pay: $1,576,435

CEO: Norman Rich

Pay: $1,018,559

Difference: $557,876

Photo: www.weismarkets.com
image=”http://static.businessinsider.com/image/4b1fe3d000000000008d079f/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”jb-hunt-transport-services-inc-7″
title=”J.B. Hunt Transport Services, Inc.”
content=”Executive Chair: Wayne Garrison

Pay: $2,403,420

CEO: Kirk Thompson

Pay: $1,838,548

Difference: $564,872
image=”http://static.businessinsider.com/image/4b1fe43c0000000000a52ef9/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”boston-properties-inc-8″
title=”Boston Properties, Inc.”
content=”Executive Chair: Mortimer Zuckerman

Pay: $7,515,530

CEO: Edward H. Linde

Pay: $6,535,099

Difference: $980,431

Photo: www.ir.bostonproperties.com
image=”http://static.businessinsider.com/image/4b1fe54000000000001c3956/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”fidelity-national-information-services-inc-9″
title=”Fidelity National Information Services, Inc.”
content=”Executive Chair: William Foley

Pay: $11,698,471

CEO: Lee Kennedy

Pay: $10,568,464

Difference: $1,130,007

Photo: www.fisglobal.com
image=”http://static.businessinsider.com/image/4b1fe62000000000008c223d/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”pattersonuti-energy-inc-10″
title=”Patterson‐UTI Energy, Inc.”
content=”Executive Chair: Mark Siegel

Pay: $5,597,309

CEO: Douglas Wall

Pay: $3,846,364

Difference: $1,750,945

Photo: patenergy.com
image=”http://static.businessinsider.com/image/4b1fe6b000000000006ebf43/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”webmd-health-corp-11″
title=”WebMD Health Corp.”
content=”Executive Chair: Martin Wygod

Pay: $5,710,783

CEO: Wayne Gattinella

Pay: $1,699,682

Difference: $4,011,101

Photo: www.webmd.com
image=”http://static.businessinsider.com/image/4b1fe7c50000000000aa87db/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”masco-corporation-12″
title=”Masco Corporation”
content=”Executive Chair: Richard Manoogian

Pay: $11,763,037

CEO: Timothy Wadhams

Pay: $5,516,905

Difference: $6,246,132

Photo: investors.masco.com
image=”http://static.businessinsider.com/image/4b1fe9630000000000b242d4/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”it-could-be-worse-13″
title=”It could be worse”
content=”CEOs Don’t Make Jack Compared To Athletes
image=”http://static.businessinsider.com/image/4a84095048c0ff614af6218f/image.jpg”
caption=””
credit=””
credit_href=””
]
[/slideshow]

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