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CIOs rake in the big bucks

Ann Bednarz | Oct. 10, 2013
Familiar companies pay CIOs bonuses, stock awards, and executive perks along with healthy salaries

FedEx's Carter received a $364,509 tax reimbursement payment related to his restricted stock awards. (Carter also received $15,562 for security services and equipment, $5,700 for tax preparation services, and $7,500 for financial counseling services.)

Life after CIO
Ascending the corporate ranks to the CIO level is a huge career accomplishment, but it's not the final rung for many IT professionals. A number of the CIOs in our roundup have taken on operations responsibilities as they've continued to climb the corporate ladder.

Lisa Bachmann, for instance, was named CIO of Big Lots in 2005. She still serves as CIO, but she was promoted to EVP and chief operating officer in August of last year. As COO, she added responsibility for store operations to her workload.

Likewise, David Thompson joined Western Union in April 2012 as CIO. Seven months later, he added global operations to his responsibilities. Thompson, who's CIO and EVP of global operations, received a $3.4 million pay package last year.

HP's Hinshaw oversees global IT, sales, procurement, business shared services, real estate, and security. Health Net's Hefner is in charge of IT, customer service, and project and portfolio management.

Aetna's McCarthy, too, oversees a wide range of activities, including clinical innovation, technology and service operations. Responsibility for process improvement, procurement and real estate services also falls under her domain.

*Editor's note: This feature provides details on pay packages for 25 senior IT executives at Fortune 500 companies, but it's not a ranking of the highest paid CIOs and IT executives. A public company is only obligated to report the compensation of its principal executive officer (CEO), principal financial officer (CFO) and three most highly compensated officers. If a senior IT leader ranks among a company's three most highly paid executives, his or her compensation is reported in the organization's proxy statement. A CIO might have earned a multimillion-dollar pay package, but if more than three executives at the company topped that amount, that IT leader's pay is not disclosed. There are undoubtedly higher paid IT chiefs whose compensation is not publicly reported.

 

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