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April 10, 2019
The Equilar CEO Tracker is a quarterly update that uncovers transition information as well as lifetime compensation figures for CEOs departing Equilar 500 companies. Below are key findings and takeaways from the Q1 2019 update.
Key Findings:
26 announced CEO departures in Q1 2019 versus 80 in all of 2018
39% of appointed CEOs in 2019 so far are external hires versus 22% in all of 2018
Equilar 500 companies have announced 26 CEO departures through the first quarter of 2019. This compares to a total of 80 CEO departures in all of 2018. 15 of the 26 CEOs departed during the first quarter with the other 11 expected to leave later this year.
The average CEO lifetime pay for all 26 departing CEOs is $129.4 million with a median of $78.5 million. John Hammergren (McKesson Corp), with the longest tenure at 19 years, earned the highest total CEO lifetime pay at $800.1 million. Geisha Williams (PG&E), with a tenure just shy of two years, had the lowest lifetime pay at $4.5 million.
Geisha Williams is the only departing female CEO in 2019 and resigned from PG&E on January 22, 2019. Two women have been appointed CEO in the first quarter. Revathi Advaithi became CEO of Flex Ltd on February 11, 2019, and Nazzic Keene will become CEO of Science Applications International Corp on July 31, 2019. Overall, women appointed as CEOs in the Equilar 500 have increased from 4% in 2016 to 6% in 2018.
Overall, external appointments have increased from 15% of all CEOs appointed in 2016 to 22% in 2018. For all announced appointments in 2019, this trend has continued with 39% of newly appointed CEOs coming from external sources.
Departures
| Company Name | Ticker | Name | Effective Date | Gender | CEO Tenure1 | CEO Lifetime Pay2 |
1Calulated as the earlier of the effective date or March 31, 2019
2Compensation data collected since 2006
3Interim Chief Executive Officer
Successors
| Company Name | Ticker | Successor | Gender | Internal | Previous Role |
3Interim Chief Executive Officer
About Equilar
Equilar is the leading provider of Board Intelligence Solutions. Its data-driven platforms, BoardEdge and Insight, provide tools for board recruiting, business development, executive compensation and shareholder engagement. Companies of all sizes, including 70% of the Fortune 500 and institutional investors representing over trillion in assets, rely on Equilar for their most important boardroom decisions. Equilar also hosts industry-leading board education symposiums, conducts comprehensive custom research services and publishes award-winning thought leadership.
Tosin Babatunde, Research Analyst at Equilar, authored this post. Please contact Amit Batish at abatish@equilar.com for more information about this article.
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