CIO Compensation Includes Lots of Perks
From plane privileges and company cars to personal drivers and club dues, the millionaire CIOs get more than just fat paychecks
CIO — Millionaire CIOs enjoy club memberships, car allowances and the company plane, among other fringe benefits. Here's a breakdown of who got what goodies, as reported in the latest proxy statements to the Securities and Exchange Commission—in order of total compensation. (For all 39 millionaires in a table format, check out our CIO Salary Ranking story.)
Jeff Fox
- Group President, Shared Services
- Alltel
- Total Compensation: $9,054,918
- Perk Value: $85,803
- The Perks: Club dues and executive physical: $6,007*
Personal use of Alltel plane: $79,796 - Notes: *Each amounted to less than $25,000 or less than 10% of total perquisites so they don't need to be reported individually, according to SEC rules.
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Bob Willett
- CIO, CEO Best Buy International
- Best Buy
- Total compensation: $8,592,830
- Perk value: $14,358
- The Perks:
Immigration-related payments (Willett is from the UK) and airline club privileges: $4,354
Life and disability insurance: $4,727
Retirement/savings contribution: $5,277
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Jean Davis
- Retired Sr. EVP E-Commerce and Operations
- Wachovia
- Total compensation: $7,296,889
- Perk value: $1,380,776
- The Perks:
Financial planning: $15,000
Life insurance: $70,734
Retirement/savings contribution: $11,310
Termination-related payments*: $1,283,600 - Notes: * Includes payout negotiated in employment agreement, plus health benefits and accrued vacation time
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Larry Kittelberger
- SVP Technology and Operations
- Honeywell International
- Total compensation: $6,401,052
- Perk value: $177,784
- The Perks:
Extra liability insurance: $1,200
Life insurance: $76,063
Perquisite allowance: $50,000
Retirement/savings contribution: $47,575
Tax reimbursements for spouse flying on Honeywell plane at Honeywell's request: $2,946
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Joe Antonellis
- Vice chairman, former CIO
- State Street
- Total compensation: $6,334,483
- Perk value: $48,874
- The Perks:
Health screening: $2,500
Personal liability insurance: 41,250
Parking: $5,047
Retirement/savings plan: $20,077 - Props: Antonellis gave away his $20,000 fee for serving on the board of a State Street joint venture to charity.
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Glen Salow
- EVP Technology and Operations
- Ameriprise Financial
- Total compensation: $6,018,346
- Perk value: $114,265
- The Perks:
Dividends on unvested restricted stock: $16,951
Retirement/savings contribution: $39,598
Perquisite allowance: $25,000
Tax reimbursement: $9,881 Also, use of the company plane for a guest and use of a Minneapolis apartment and parking spot that amounted to less than $25,000 or less than 10% of total perquisites, so don't have to be reported individually, according to SEC rules.
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Tim Shack
- EVP, CIO
- PNC Financial
- Total compensation: $5,942,093
- Perk value: $54,440
- The Perks:
Insurance: $19,373
Perquisite allowance: $16,867
Retirement/savings contribution: $18,200
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Roy Dunbar
- President Global Technology and Operations
- MasterCard
- Total compensation: $5,216,498
- Perk value: $110,049
- The Perks:
Perquisite allowance: $47,960
Retirement/savings contribution: $46,558
Tax reimbursement related to moving to O'Fallon, Mo., home of company's tech center: $15,531
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Bob DeRodes
- EVP, CIO
- Home Depot
- Total compensation: $5,179,182
- Perk value: $253,255
- The Perks:
Life insurance: $96,810
Retirement/savings contribution: $35,135
Tax reimbursement: $118,513
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Harvey DeMovick Jr.
- EVP Customer Service Operations, CIO
- Coventry Health Care
- Total compensation: $4,670,942
- Perk value: $242,921
- The Perks:
401(k) contribution: $154,539
Car allowance: $12,000
Disability insurance: $10,710
Personal use of Coventry plane: $35,826
Other transportation-related expenses: $19,946
Retirement/savings contribution: $9,900


