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Study reveals which N.J. CEOs were the highest-paid

Eric Strauss//May 26, 2016//

Study reveals which N.J. CEOs were the highest-paid

Eric Strauss//May 26, 2016//

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The Associated Press, in conjunction with Equilar, has come out with its annual CEO pay study, and 15 New Jersey chief executives made the list of more than 340.The news service looked at CEOs at companies in the Standard & Poor’s 500 who have served two full, consecutive fiscal years at the head of their business. The companies had to have filed proxy statements between Jan. 1 and April 30.

Among the 341 CEOs who qualified, the average salary in 2015 was $10.8 million, including bonuses, stock awards and other compensation, the AP said. That was up from $10.3 million in 2014. The average pay raise in 2015 was $468,449, or 4.5 percent.

The highest-paid CEO in this year’s survey was Expedia’s Dara Khosrowshahi, who made $94.6 million in 2015, up 881 percent from the previous year. Most of his pay came in the form of stock options that vest over several years, the AP said.

Among the New Jersey CEOs in the study, the highest-paid was Dave Cote of Morris Plains-based Honeywell International. He made $33.8 million in 2015, up 43 percent from the previous year.

The New Jersey CEO who got the biggest raise in 2015 was Robert P. Carrigan of Short Hills-based Dun & Bradstreet, who made $6.9 million, up 65 percent from 2014.

The other Garden State chief executives included in the study, ranked by their 2015 pay, were:

  • Robert J. Hugin, Celgene, Summit, $22.5 million, down 7 percent;
  • Alex Gorsky, Johnson & Johnson, New Brunswick, $21.1 million, up 3 percent;
  • Kenneth C. Frazier, Merck & Co., Kenilworth, $19.9 million, down 7 percent;
  • Irene B. Rosenfeld, Mondelez International, East Hanover, $18.3 million, up 15 percent;
  • John R. Strangfeld, Prudential Financial, Newark, $16.7 million, down 3 percent;
  • Stephen P. Holmes, Wyndham Worldwide, Parsippany, $15 million, up 6 percent;
  • Francisco D’Souza, Cognizant Technology Solutions, Teaneck, $12 million, up 5 percent;
  • Timothy M. Ring, C.R. Bard, Murray Hill, $11.2 million, up 11 percent;
  • Stephen H. Rusckowski, Quest Diagnostics, Madison, $9.7 million, up 5 percent;
  • Ralph Izzo, Public Service Enterprise Group, Newark, $9.2 million, up 7 percent;
  • Juan R. Alaix, Zoetis, Florham Park, $8.7 million, up 14 percent;
  • Scott G. Stephenson, Verisk Analytics, Jersey City, $6.6 million, up 5 percent; and
  • James R. Craigie, Church & Dwight, Ewing, $6.2 million, up 8 percent.

Three CEOs with close New Jersey ties also made the study:

  • Evan G. Greenberg of Chubb Limited, a Warren-based insurer that was bought by Switzerland-based ACE Limited earlier this year, made $20.4 million in 2015, up 4 percent.
  • Michael B. Polk of Newell Rubbermaid, which as Newell Brands is moving its headquarters to Hoboken, earned $14.4 million in 2015, up 16 percent.
  • And George Oliver of Tyco International, which is based in Ireland but has its U.S. headquarters in Princeton, made $9 million in 2015, unchanged from the previous year.

For the complete results of the study, click here.