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

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
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