07 August 2007

Local CEOs Pocket Perks-a-Plenty

The June 29 Business Courier has a good series on the compensation of local CEOs. Apparently one of the new trends in boardroom buttlovin' is the replacement of specific perks (cars, event tickets, club memberships) with cash (which has to be used for specific perks like cars, event tickets, and club memberships).

Here's a breakdown of some of the perks enjoyed by local execs:

Cincinnati Bell's Jack Cassidy (2006 compensation $3.8 million) received $35k for car, club dues, and legal/financial planning services.

Midland's John Hayden (2006 - $1.88 million) - $33k for financial planning, company aircraft, club dues, commuting, event tickets.

Meridian Bioscience's William Motto (2006 - $1.44 million) - $50k for "professional allowances" plus $19k for car.

Omnicare's Joel Gemunder (2006 - $13.4 million) - $60k for financial planning, $58k for car.

5/3rd's George Schaeffer (2006 - $4 million) - $95k for financial planning.

American Financial's co-CEOs Carl Lindner III and S. Craig Lindner (2006 - $10 million) - $400k for airplane services.

Macy's Terry Lundgren (2006 - $16 million) - 40% discount on store merchandise (totalling $48k).

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