Michael J. Mancuso, who retired as senior vice president and CFO of General Dynamics on May 31, earned about $11.4 million last year. Nearly $10 million was the result of exercising stock options; he earned another $1.7 million or so in salary, bonus, stock awards, options awards, and other sources in the brief period he served.
L. Hugh Redd, who replaced Mancuso effective June 1, earned nearly $1.8 million. Mancuso and Redd are just two among dozens of CFOs whose compensation was disclosed this week.
Elsewhere, Richard D. Nanula, executive vice president and CFO of Amgen, earned nearly $6.2 million, including $3.9 million — the fair value of stock and options awards on their grant date — and $1.2 million in nonequity incentive plan compensation.
Henry C. Wolf, vice chairman and CFO of Norfolk Southern, earned about $6 million, including about $3.2 million — the fair value of stock and option grants — and more than $1.1 million from the change in pension value and nonqualified deferred compensation earnings.
Boeing’s executive vice president and finance chief, James A. Bell, earned $5.9 million. This included $2.6 million in stock awards, $1.1 million reflecting the change in value of his accumulated benefits under all pension plans during the year, and $847,000 in nonequity incentive plan compensation.
Meanwhile, The Chubb Corp. announced that Michael O’Reilly, vice chairman and CFO, earned $7.2 million. This included a salary of $661,000, as well as $3.7 million in stock awards, nearly $1.3 million in nonequity incentive plan compensation, and nearly $1.2 million resulting from the change in pension value and nonqualified deferred compensation earnings. O’Reilly also netted $302,000 from the gains resulting from exercising stock options.