Honeywell CEO's 2017 Pay Is 333 Times More Than Median Worker'sBy
Honeywell International Inc. disclosed that Chief Executive Officer Darius Adamczyk’s $16.5 million pay package for last year amounts to about 333 times more than what the company’s median employee earned, making it the first S&P 100 company to disclose the ratio.
The Morris Plains, New Jersey-based firm reported the ratio Friday in a regulatory filing. Thousands of publicly traded U.S. businesses will make their inaugural disclosures this year under a mandate of the 2010 Dodd-Frank Act.
Adamczyk’s 2017 compensation increased 60 percent from a year earlier as he took over the CEO job in March. His pay included $1.41 million in salary and a $5.72 million cash bonus, according to the filing. The median employee -- half of Honeywell’s 131,000 workers earn more and half make less -- was paid $50,296 last year.
On Feb. 12, Teva Pharmaceutical Industries Ltd. disclosed a ratio of 302-to-1, comparing CEO Kare Schultz’s $19.4 million annualized pay to the median worker’s $64,081. That same day, Apollo Global Management LLC, reported a 1-to-1 ratio, with CEO Leon Black’s $251,888 compensation almost matching the $249,750 for the firm’s median employee. Black’s total didn’t include the $191 million in dividends he received on his shares of the company.
— With assistance by David Scheer