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Article: Study Finds Sharp Drop in CFO Pay; Bonuses and Restricted Stock Gaining in Value While Stock Options Plummet.
- Article from:
- PR Newswire
- Article date:
- October 7, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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GREENSBORO, N.C., Oct. 7 /PRNewswire/ -- Chief Financial Officers' average total compensation was nearly 14 percent lower in 2002 compared to 2001. This is the central finding of a study of 823 large public companies with revenues of more than $250 million by The Todd Organization, a leading nationwide executive benefits and consulting firm.
Of particular note:
*Total compensation. Total average remuneration for CFOs was
$1,390,967 in 2002 compared to $1,616,909 in 2001. This is a 13.97
percent reduction in compensation, amounting to $225,942, on
average.
*Stock Options. The average CFO saw a $308,352 reduction in ...