Citigroup pays new CEO Corbat $12.4M in 2012
That's 17 percent less than the $14.9 million his predecessor, Vikram Pandit, received in 2011.
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#1 Mar 15, 2013
I know a lot of people that have problems with executives that make such huge sums, but fail to see the big picture. These same people will cheer an athlete that makes twice that?? For playing a sport? This while some executives are responsible for the livelihood of thousands of people and the income of thousands of shareholders? And no, I'm not one of them. Actually doing the math, my salary is 0.39% of that.
#2 Mar 18, 2013
Here's the thing:
An athlete that fails to perform, or repeatedly makes mistakes that cost his team victory won't be able to receive the large salary, nor will he be able to expect an increase pay, nor will he be able to expect that another team will trade for him/sign him to a new contract.
A CEO on the other hand can repeatedly fail, can repeatedly make mistakes, or allow mistakes to be made at his company that cost his company profits and his shareholders return on investment.
Also, the CEO, unlike the athlete when booted has typically enjoyed a 'golden parachute', where they receive millions upon millions of dollars after having failed so miserably that there was no choice but to get rid of him.
I can't think of any CEO that showed, through his actions in conducting business, that he cared more for the employees of his company or the shareholders in the company MORE than his own wallet.
If you can cite one and also cite the proof, I'd be happy to review it.
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