Which tech leaders received the most generous pay hikes in 2013?
Avaya CEO Kevin Kennedy got a fivefold pay increase last year. Sprint more than quadrupled Dan Hesse’s package. Which other tech CEOs saw dramatic pay jumps in 2013? We examined 62 tech CEOs’ total compensation — including salary, bonuses, stock awards, and perks — and found 10 who landed the biggest raises.
CEO and president, Avaya
Percentage-wise, Kevin Kennedy’s raise is the most jaw dropping at 454%. His $7.4 million compensation was more than five times the value of his 2012 pay, which came in at $1.3 million. The dollar amount difference is slightly more than $6 million. Kennedy’s 2013 pay package included his $1.3 million salary, $3.2 million in bonuses, stock awards valued at $2.6 million, and $17,571 in perks and other compensation. In 2012, Avaya didn’t give any equity awards or cash bonuses to Kennedy.
CEO and president, Sprint
By dollar amount, Dan Hesse’s raise blows away that of any other tech CEO. His 2013 pay package, worth $49.1 million, was nearly $38 million more than what he made a year earlier ($11.1 million). The difference is due to a giant grant of restricted stock and options awards — valued at a combined $34.1 million at the time they were granted. The Sprint CEO’s total package also included a $1.2 million salary, $13.4 million bonus, and $372,078 in perks and other compensation.
CEO, president and chairman, CDW
Thomas Richards, the head of CDW, saw his pay nearly double last year, spiking from $3.2 million in 2012 to $6.3 million in 2013. Richards’ total compensation included his $793,779 salary, $1.2 million bonus, option awards valued at $2.4 million, $266,204 attributed to non-qualified deferred compensation earnings, and $1.6 million in perks and other compensation.
CEO and chairman, Cisco
An 80% raise boosted John Chambers’ compensation above $21 million last year. In 2012, the Cisco CEO received $11.7 million. The biggest gains came in the form of stock awards valued at $15.2 million (compared to $7.3 million in 2012). Chambers also received a $4.7 million cash bonus, and his salary rose from $375,000 in 2012 to $1.1 million in 2013.
CEO, Ingram Micro
Alain Monié’s compensation was fairly consistent from 2012 to 2013 — with one $5 million exception. His total pay in 2013 included his $876,923 salary (compared to $840,501 a year earlier), $1.4 million bonus (down from $1.6 million), stock awards valued at $5 million (up from $4.5 million), and $23,813 in perks and other compensation (compared to $34,169 in 2012). The big difference is an additional grant of option awards, valued at $5 million. The year before, Ingram Micro didn’t grant any option awards to Monié.
CEO and chairman, Riverbed
A jump in stock awards drove up Jerry Kennelly’s 2013 compensation, which was valued at $12.8 million. A year earlier, Riverbed’s CEO received $8 million. Kennelly’s 2013 pay included his $750,000 salary (up from $650,000), $751,853 bonus (up from $568,399), and stock awards valued at $11.3 million (up from $6.8 million in 2012).
CEO and president, SanDisk
A 60% raise — largely in the form of a cash bonus — brought Sanjay Mehrotra’s total pay up to $10.6 million last year. In 2012, the chief exec and co-founder of flash storage maker SanDisk received $6.7 million. Mehrotra’s 2013 package included his $946,134 salary (up from $880,769); $3.1 million bonus (up from $661,500); stock awards valued at $3.2 million (up from $2.4 million); option awards valued at $3.3 million (up from $2.7 million); and $100,218 in perks and other compensation.
CEO and president, F5
Last year delivered a $3 million boost for John McAdam, CEO of application delivery specialist F5. His 2013 pay package, valued at $8.3 million, included his $817,636 salary, $897,196 bonus, and stock awards valued at $6.5 million (up from $3.8 million a year earlier). In 2012, McAdam received a $5.2 million pay package.
CEO, president and chairman, Verisign
Verisign boosted James Bidzos’ pay by 46% last year, with the gains showing up primarily in his bonus and equity awards. In 2013, Bidzos received $8.5 million, which included his $752,885 salary, $957,750 bonus (up from $593,550), and equity awards valued at $6.8 million (up from $4.5 million in 2012). In 2012, his pay was $5.9 million.
CEO and president, Adobe
A 31% raise drove Shantanu Narayen’s compensation up to $15.7 million last year. A year earlier, he made $12 million. His total package included a $941,667 salary, $1.6 million bonus, and $19,211 in perks and other compensation. Narayen also received stock awards valued at $13.1 million. That’s where he made the biggest gains; a year earlier, his equity awards were valued at $9.7 million.