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by a spate of acquisitions, most recently the addition of General Electric Corp.’s health-care lending business. As has been his custom, Fairbank for-


goes a base salary in exchange mostly for equity awards. His 2015 cumulative pay package exceeded $18 million, including a $2.68-million deferred cash bonus and $15.2 million in incentive-laden equities. Northrop Grumman Corp. CEO


Wesley G. Bush ranked fourth with a pay deal whose overall value jumped 6 percent to $15.8 million. The lion’s share came from shares of stock worth an estimated $10 million. The 54-year-old Bush got a 4 percent salary raise to $1.59 million and a cash bonus of $3.3 million. Bush stunned the industry after


taking the helm in 2010, uprooting its headquarters from Los Angeles to North- ern Virginia to be nearer to government customers. Under Bush’s leadership, Northrop Grumman said it generated total shareholder return of 30.5 percent in 2015, beating the S&P for the seventh consecutive year. Altria Group CEO Martin Bar-


rington, 62, rounds out the top five with Bidzos Folliard


$10.7 million, including $5.6 million of equity, a bonus pay- ment of $3.5 million and 7 percent sal-


Farrell


ary hike to $1.3 million. In its proxy, the cigarette maker said Barrington provided “extraordinary strategic leadership” as it grappled with com- petitive and regulatory challenges to the tobacco industry,


Sasser helping Altria


and its companies “deliver $5.5 billion of adjusted net earnings” and total share- holder return of 23 percent. Other CEOs with eight-figure com-


pensation packages include Christopher Nassetta at Hilton Worldwide ($10.2 million), Verisign’s D. James Bidzos ($10.15 million) and outgoing CarMax boss Thomas Folliard ($10 million).


One of the biggest one-year declines


belongs to Thomas F. Farrell II at Dominion Resources Inc., whose $9.66 million package is slightly less than half, or 44 percent, than the $17.3 million package in 2014. Farrell’s performance-based cash bonus of $366,432 represents a 90 percent cut from the $3.52 million bonus in 2014, as the energy giant missed earnings guidance and lagged on multiyear total shareholder return. During his presidential bid, democratic


socialist Sen. Bernie Sanders of Vermont roused young voters by carping about the pay disparity between CEOs and rank-and- file workers. The issue is sure to get even more play with a contentious election loom- ing in November. But Passin at Mercer said compensation committees already are trying to balance equitable CEO pay with greater transparency on performance metrics. “The most important thing for an


organization to have is a CEO that is incentivized to grow the company and lead the strategic objectives. What do we need to pay to motivate our CEO to get the performance we need as a company? That’s the question being asked in board- rooms.”


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