Should CEO’s be compensated based on the stock price, company earnings, or simply based on Talent? Looking at Yellow Page CEO earnings…….
Scott W. Klein has been the Chief Executive Officer of Idearc, Inc. Since June, 2008. Mr. Klein served as Chief Executive Officer of Symphony Technology Group. He has also served as Operating Partner of Symphony Technology Group since 2007. He served as Chief Executive Officer and President of Information Resources Inc. from February 2, 2004 to October 2007. He has extensive knowledge of operations management and global marketing to Intentia. He was charged with transforming … IRI’s business by focusing on strengthening its core business of market content and analytic services, while extending services through business performance management solutions. Before joining IRI, Mr. Klein served as President of the Consumer Industries, Retail & Energy Division of Electronic Data Systems (EDS) from 2001 to 2004, a global services company. Prior to EDS, he served as President of PC Mall Inc. as well as Chief Executive Officer and President of eCOST.com (a subsidiary of PCMall) from 1999 to 2001, a California-based telesales, catalog, and Internet reseller of IT products while there he successfully launched eCOST.com a premier B to B and B to C online retailer of computer products and consumer electronics. From 1984 to 1999, he served as Chief Operating Officer and an Executive Vice President of PrimeSource Building Products, Inc. and its predecessor companies. Prior to that, Mr. Klein held various marketing and sales positions at PepsiCo Inc. and Procter & Gamble Company. He started his career with Procter & Gamble in Brand Management and later served as Director of Marketing for PepsiCo. Mr. Klein has been a Director of Idearc Inc. Since June 2008. He has been a Director of Intentia International Ab since May 12, 2005. He serves on the Board of Directors of Information Resources, Inc. (IRI). He served as a Director of Lawson International AB since May 12, 2005. He served as Director of PrimeSource Building Products, Inc. Mr. Klein is an honors Accounting graduate of Syracuse University.
Total Annual Compensation $1,262,615
Restricted Stock Awards $421,800
All Other Compensation $1,841,120
Unexercisable Options 250,000
Total Number of Options 250,000
Total Annual Cash Compensation $1,480,769
Total Short Term Compensation $1,262,615
Other Long Term Compensation $2,262,920
Total Calculated Compensation $3,876,876
David C. Swanson serves as President of R.H. Donnelley Directory Company. Mr. Swanson has been Chief Executive Officer of RH Donnelley Corp. and R.H. Donnelley Inc. since May 2002. Mr. Swanson serves as Chief Executive Officer of Dex Media West LLC, Dex Media East LLC and Dex Media Inc. Mr. Swanson served as President and Chief Operating Officer of R.H. Donnelley Corp. from December 2000 to May 2002. Prior to that, Mr. Swanson served as President of Donnelley Directory … Services since March 1999. Mr. Swanson joined R.H. Donnelley Corp. in 1985 as an Account Executive and served senior management positions over 15 years. He served as an Executive Vice President of Sales since 1995. He served as an Executive Vice President and General Manager of Proprietary Operations since 1997. He served as an Executive Vice President of Corporate Strategy in conjunction with R.H. Donnelley Corp.’s spin-off (“Spin-Off”) as an independent public company from The Dun & Bradstreet Corporation (“D&B”) since 1998. Mr. Swanson has been Chairman of RH Donnelley Corp. since April 2006. Mr. Swanson serves as Chairman of Dex Media West LLC, Dex Media East LLC and Dex Media Inc. Mr. Swanson served as Chairman of RH Donnelley Corp. and R.H. Donnelley Inc. from December 2002 to January 2006. Mr. Swanson has been a Director of RH Donnelley Corp. and R.H. Donnelley Inc. since December 2001. Mr. Swanson serves as a Director of Dex Media West LLC, Dex Media East LLC and Dex Media Inc. He serves as a Director of R.H. Donnelley Inc.
Total Annual Compensation $960,247
Restricted Stock Awards $774,732
All Other Compensation $145,138
Unexercisable Options 1,170,567
Total Number of Options 1,170,567
Total Annual Cash Compensation $1,392,385
Total Short Term Compensation $960,247
Other Long Term Compensation $919,870
Total Calculated Compensation $8,747,562
After all the talk this week about capping executive compensation of companies that received bail-out monies, I thought it might be interesting to see what the annual compensation was for CEO’s of two of the “non-telco” yellow pages publishers. Honestly, I am not supporting caps on compensation, but I do feel like performance, earnings, and benchmarking is something that should be used to determine pay. Most companies use a compensation committee on the Board of Directors to determine pay. So it is usually a network of “friends” that helps determine the pay of many United States CEOs.
So you ask… why post this? A good friend and former co-worker of mine made a comment about CEO pay and I thought I would take a moment to research it further. Cheers!