Human Capital & Careers

2001 CFO Pay: The Top Ten

In a year when the tech bubble burst, the Sun finance king ruled.
CFO.com StaffAugust 2, 2002

Based on a sample of 234 CFOs at 350 of the largest public companies with revenues over $1 billion that filed corporate proxy statements between July 30, 2001 and April 5, 2002. Figures do not include “all other compensation” or “other annual compensation.” “Total annual compensation” (TAC) equals base salary plus bonus. “Total long-term incentive compensation” (LTI) is the gain on options exercised plus the value of restricted-stock grants plus long-term incentive-plan payouts. “Total direct compensation” equals the sum of TAC and LTI.

Compiled by Mercer Human Resource Consulting

Ten Top-Paid CFOs
(all dollar amounts are in thousands)
Executive and Company Base Salary Bonus Total Annual Compensation Gain on Option Exercise Total Long-Term Incentives Total Direct Compensation
Michael E. Lehman, Sun Microsystems $600 $0 $600 $36,027 $36,601 a $37,201
Change from 2000 -4%   -66%     -8%
Mark H. Swartz, Tyco International $969 $2,500 $3,469 $13,700 $28,900 b $32,368
Change from 2000 26%   60%     -48%
Larry R. Carter, Cisco Systems $424 $0 $424 $29,009 $29,009 $29,433
Change from 2000 10%   -66%     -40%
Anthony S. Thornley, Qualcomm $529 $350 $879 $19,408 $19,408 $20,287
Change from 2000 10%   3%     168%
James G. Stewart, Cigna $702 $600 $1,302 $9,424 $14,133 c $15,434
Change from 2000 5%   -17%     127%
Dennis L. Winger, Applera $427 $202 $629 $7,969 $11,985 d $12,614
Change from 2000 4% -22% 60%
M. Scot Kaufman, MBNA $1,600 $3,601 $5,201 $0 $5,540,625 e $10,742
Change from 2000 8%   16%     10%
David L. Shedlarz, Pfizer $773 $737 $1,510 $4,047 $7,908 f $9,417
Change from 2000 11%   6%     56%
David A. Viniar, Goldman Sachs $600 $8,381 $8,981 $0 $0 $8,981
Change from 2000 0%   -21.3%     -21.3%
John R. Joyce, IBM $519 $650 $1,169 $4,696 $5,436 g $6,065
Change from 2000 N/A   N/A     N/A

a. Includes $573,442 in long-term incentive plan payouts.

b. Includes $15,199,440 in restricted stock grants.

c. Includes $2,841,500 in restricted stock grants and $1,867,000 in long-term incentive plan payouts.

d. Includes $4,015,688 in restricted stock grants.

e. Includes $5,540,625 in restricted stock grants.

f. Includes $3,861,000 in long-term incentive plan payouts.

g. Includes $740,480 in long-term incentive plan payouts.

4 Powerful Communication Strategies for Your Next Board Meeting