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Companies rein in flashy perks, find other rewards for CEOs

By Ross Kerber BOSTON (Reuters) - For some executives, corporate perks are getting just a little less exciting. A number of major U.S. companies are cutting back on glamorous luxuries like personal jet use, country-club memberships, and luxury rentals, recent corporate filings show. Often the shifts follow pressure from shareholders, who in recent years have criticized soaring executive pay and over-the-top perks.

Aviva could pay CEO up to $8.7 million for first year of turnaround

By Chris Vellacott LONDON (Reuters) - British insurer Aviva <AV.L> could pay its chief executive Mark Wilson up to 5.3 million pounds ($8.7 million) for his first year in the job he took on after a shareholder rebellion led to the departure of his predecessor. According to Aviva's annual report for 2013, published late on Monday, Wilson's pay comprises a basic salary of 980,000 pounds plus a bonus of 1.1 million pounds, one third of which will be paid in cash with the rest paid in shares deferred for three years.

Top French court approves 75% company tax on high salaries

France's top court Sunday approved a proposal for companies to pay 75 percent tax on annual salaries exceeding one million euros in line with President Francois Hollande's drive to limit executive pay at a time of economic hardship. The Constitutional Council had earlier in the year thrown out one of Hollande's key campaign pledges to impose a 75 percent tax on individuals earning more than one million euros ($1.35 million).

Top French court approves 75 pc company tax on high salaries

France's top court Sunday approved a proposal for companies to pay 75 percent tax on annual salaries exceeding one million euros in line with President Francois Hollande's drive to limit executive pay at a time of economic hardship. The Constitutional Council had earlier in the year thrown out one of Hollande's key campaign pledges to impose a 75 percent tax on individuals earning more than one million euros ($1.35 million). The rejection of that proposal exempted those who had a significant inheritance but low incomes from coming under the 75 percent tax bracket.

Massachusetts boosts scrutiny of CEO pay at charities

By Richard Valdmanis BOSTON (Reuters) - Massachusetts said it will require annual reporting of CEO compensation at the state's public charities after a review found hospitals, health care plans, and universities giving their executives "high" and rapidly increasing pay. The review by Massachusetts Attorney General Martha Coakley's office found chief executives at the state's top 25 charitable organizations received annual compensation ranging from $487,397 to $8.8 million between 2009 to 2011.

Swiss voters reject proposal to limit executives' pay

By Caroline Copley ZURICH (Reuters) - Swiss voters rejected a proposal on Sunday to cap the salaries of top executives at 12 times that of a company's lowest wage, heeding warnings from industry leaders that the measure could harm the country's economy. The wealthy nation, which is home to some of the world's biggest companies including food group Nestle <NESN.VX> and commodities giant Glencore Xstrata <GLEN.L>, voted 66 percent against imposing the limit, according to a projection from Swiss television.

Hospital CEO pay not tied to quality of care: study

By Genevra Pittman NEW YORK (Reuters Health) - Hospital CEOs' pay isn't linked to their hospital's benefit to the community. Nor is it linked to the quality of care the hospital provides, a new study found. Instead, the chief executive officers, or CEOs, tended to earn more at hospitals with high patient satisfaction ratings and advanced technology. "I was hoping I'd see even some modest relationship with quality performance," said Dr. Ashish Jha. "I think we were a little disappointed."

US regulators move toward requiring public companies to detail CEO-employee pay gap

WASHINGTON - Public companies would have to show the difference in pay between their CEOs and ordinary employees under a proposal advanced by federal regulators. The Securities and Exchange Commission voted 3-2 Wednesday to propose a rule that would compel companies to report that information publicly. Companies would have to report the ratio between their chief executive's annual compensation and the median, or midpoint, pay of employees.

Shifting fortunes: Which CEOs got the biggest pay cuts and the biggest raises

Here's a look at the CEOs that received the biggest raises and the biggest pay cuts in 2012 compared with 2011, as calculated by the executive pay research firm Equilar and The Associated Press. Whose pay rose the most: 1. Ronald Havner Jr., Public Storage, $15.4 million, up 456 per cent 2. Dara Khosrowshahi, Expedia, $14.4 million, up 309 per cent 3. Ralph Izzo, Public Service Enterprise Group (parent of PSE 4. Michael White, DirecTV, $17.9 million, up 212 per cent

How The AP and Equilar calculate CEO pay

For its annual survey of CEO pay, The Associated Press uses data provided by Equilar, an executive pay research firm. This year, Equilar examined the regulatory filings detailing the pay of 323 CEOs. Equilar looked at S To calculate CEO pay, Equilar adds salary, bonus, perks, stock awards, stock option awards and other pay components.
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