Viacom’s Dauman Highest-Paid CEO as Pay Gains, N.Y. Times Says

Viacom Inc. (VIA/B)’s Philippe Dauman was the highest-paid chief executive officer in the U.S. last year as compensation overall gained for the first time in two years, the New York Times reported.

Dauman received $84.5 million, with Viacom telling the newspaper the amount was inflated by one-time stock awards linked to a long-term contract. The compensation was for nine months, the newspaper said, after Viacom changed its fiscal year. Ray Irani, chief executive of Occidental Petroleum Corp. (OXY), was second with $76.1 million, the Times said.

The median total compensation for U.S. executives gained 12 percent to $9.6 million, while the average was up 20 percent, the newspaper said, citing the survey by executive compensation tracker Equilar.

Larry Ellison, Oracle Corp. (ORCL)’s chief executive who was No. 1 in the survey last year, was third this year with $70.1 million, followed by DirecTV (DTV) Chief Executive Michael White, who received $32.9 million, the Times said. John Lundgren, chief executive of Stanley Black & Decker Inc. (SWK), was paid $32.6 million and was fifth, the newspaper said.

Rounding out the top 10 in sixth through 10th place, respectively, were: Brian Roberts, Comcast Corp. (CMCSA), $28.2 million; Robert Iger, Walt Disney Co. (DIS), $28 million; Alan Mulally, Ford Motor Co. (F), $26.5 million; Samuel Palmisano, International Business Machines Corp. (IBM), $25.2 million; and David Farr, Emerson Electric Co. (EMR), $22.9 million, the Times said.

Equilar’s study for the newspaper covered 199 public companies with annual revenue of at least $7 billion that filed annual proxy statements by April 1, the Times said. The newspaper said this list isn’t definitive because some companies, including Morgan Stanley (MS) and JPMorgan Chase & Co. (JPM), had yet to file their executive pay data.

Total compensation is comprised of an executive’s base salary, grant-date value of stock and option awards, discretionary and performance-based cash bonuses, and other compensation, the newspaper said.

To contact the reporter on this story: Dan Hart in Washington at dahart@bloomberg.net.

To contact the editor responsible for this story: Sylvia Wier at swier@bloomberg.net.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.