According to an investor advocacy group called “As You Sow,” Nike shareholders should “Just Do It” – force CEO John J Donahoe to take a pay cut. He’s not worth the $33,000,000 he was paid last year and is on their list of overpaid CEOs.
The group put out their eighth-annual report Thursday, and after crunching all their data, they named names and companies. The report says that CEO pay is becoming untethered from company performance. In many instances, shareholders reject pay packages when they get a chance to vote on them.
16 Fortune 500 CEOs found that out the hard way in 2021, 60% more than 2020.
So here’s the good part, the list of overpaid CEO’s according to the report.
At the top of the list is Chad Richardson of Paycom Software. The top 5 is rounded out by Frank Del Rio of Norwegian Cruise Line, H. Lawrence Culp Jr., General Electric, G. Michael Sievert, T-Mobile, and Donahoe with Nike.
Other notable inclusions in the top-10 include the bosses at Chipotle, Discovery, and Hilton.
It’s doubtful the names on the list will miss any sleep over their inclusion. Richardson of Paycom took home a staggering $211,131,206 in 2021. One of the criteria used in this study was median employee salary and CEO pay to workers – in Richardson’s case, the CEO-to-employee-pay ratio was $2,963 – $1.
The report also noted that the CEOs who make a big deal of announcing they will take a pay cut because of the pandemic saw “a minimal effect on their total pay” because they make it up in equity gains.
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