Feature

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

November 16, 2007 — 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.

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

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

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

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.

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.

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

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

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

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