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With profits rising, Delta Air Lines boosted 2012 compensation for CEO Anderson by 42 per cent

The Canadian PressApril 30, 2013 13:30
ATLANTA - The CEO of Delta Air Lines saw his compensation jump 42 per cent last year as the airline boosted his long-term incentive pay and the airline made more money than its peers. Richard Anderson's compensation rose to almost $12.6 million, up from $8.9 million in 2011, according to an Associated Press calculation based on an SEC filing Tuesday. His pay is divided between cash and stock and options that will only have value if Delta's stock price rises.

Barclays promises angry investors to crack down on pay

April 25, 2013 10:15
By Steve Slater LONDON (Reuters) - Barclays promised a rigorous review of executive pay on Thursday, as shareholders at the bank's annual meeting said they remain unconvinced that big bonus payouts will be abandoned by its new bosses as part of a new ethical drive. Chief Executive Antony Jenkins, drafted in last year to tear up Barclays' profits-at-all-costs culture, told shareholders it would take time for them to see the benefits of his multi-billion-pound overhaul.

Barclays promises "rigorous" pay review

April 25, 2013 05:00
By Steve Slater LONDON (Reuters) - Barclays <BARC.L> promised a rigorous review of executive pay and a cooperative relationship with regulators as it tries to dispel a reputation for reckless risk-taking and unethical behaviour that caused a series of scandals. The British bank said on Wednesday it would reform its standards and culture, from improving coordination within its executive team to forcing all staff to attend a course on the company's new values.

Julius Baer shareholders reject executive pay plan

April 10, 2013 13:15
Shareholders in Swiss private bank Julius Baer on Wednesday flatly rejected the bank's plan for executive compensation in a non-binding vote, amid outrage over excessive pay packages. The surprise vote, which its supporters said should be seen as a "warning signal to businesses", came just a month after Swiss voters massively came out in favour of a new law limiting executive pay and bonuses.

Chevron says executive pay to reflect 2012 "incidents"

March 27, 2013 20:15
(Reuters) - Chevron Corp <CVX.N> said on Wednesday its executive pay would reflect certain incidents in 2012 as well as a financial performance that outpaced the U.S. oil company's peer group. According to the Wall Street Journal, Chevron's board has trimmed equity awards by 11 percent and bonuses by at least 10 percent for Chief Executive John Watson and several other executives as a result of a string of accidents.

Britain loses battle over EU bank bonus caps

March 27, 2013 12:00
By Claire Davenport BRUSSELS (Reuters) - Britain suffered a long-expected political defeat on Wednesday when it failed to stop European Union countries waving through a cap on bankers' bonuses, an EU law that will hit London hardest. Corporate largesse is under attack across Europe with Switzerland earlier this month voting to impose some of the world's strictest controls on executive remuneration amid public anger at Wall Street-style excess in company boardrooms.

Moderate pay hikes for Germany's top CEOs last year: study

March 19, 2013 09:30
The chief executives of Germany's 30 biggest companies took home 5.3 million euros ($6.9 million) on average last year, a 3.0-percent rise from 2011, but still below the European average, a study showed Tuesday. Based on the annual reports of 23 of the 30 companies in Germany's blue-chip DAX stock index, the chief executives' pay ranged from 2.1 million euros for Lufthansa chief Christian Franz to 14.5 million euros for the Volkwagen CEO Martin Winterkorn, the study by consultants Towers Watson said.

EU welcomes Swiss vote to curb corporate pay

March 4, 2013 09:00
The European Union on Monday welcomed a Swiss vote to curb executive pay across the board as reflecting a change in European attitudes only days after an EU accord to limit bank bonuses. Sunday's referendum result in Switzerland "is very positive (it shows) ... that there is now momentum on the European level on corporate pay and ensuring transparency," said the spokesman for EU Financial Markets Commissioner Michel Barnier.
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