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Equilar Institute
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July 22, 2019
Key Findings:
42 announced CEO departures by mid-year 2019 versus 80 total departures in 2018
31% of appointed CEOs in 2019 to date are external hires versus 22% of appointed CEOs in 2018
Equilar 500 companies have announced 42 CEO departures in 2019. This compares to a total of 80 CEO departures in all of 2018. Of the 42 announced CEO departures in 2019 33 have departed within the first half of the year, leaving the remaining nine expected to depart later this year.
The average lifetime compensation for all 42 departing CEOs is $106 million with a median of $64.3 million. John Hammergren (McKesson Corp), with the longest tenure of 19 years, earned the highest total CEO lifetime pay at $800.1 million. Terry Handley (Casey’s General Stores), with tenure of three years, earned the lowest lifetime pay at $4.4 million.
Geisha Williams, the only departing female CEO of 2019, resigned from PG&E on January 22, 2019. In 2019 thus far, five women have been appointed CEO: Revathi Advaithi (Flex), Nazzic Keene (Science Applications International), Lori Ryerkerk (Celanese), Mary Winston (Bed Bath & Beyond) and Melisa Miller (Alliance Data Systems). This constitutes 14% of the total number of appointed CEOs in 2019 so far. Within the Equilar 500, female-appointed CEOs have risen from 4% in 2016 to 6% in 2018.
Overall, external appointments have increased from 15% of all appointed CEOs in 2016 to 22% of all appointed CEOs in 2018. For all announced appointments in 2019, this trend has continued with 31% of newly appointed CEOs coming from external sources.
| Company | Ticker | Name | Effective Date | Gender | CEO Tenure1 | CEO Lifetime Pay2 |
|
Alliance Data Systems Corporation
|
ADS | Edward Heffernan | 6/5/2019 | M | 10.26 | $111,412,588.00 |
|
Arconic Inc.
|
ARNC | Charles Blankenship | 2/6/2019 | M | 1.1 | N/A |
|
ARRIS International plc
|
ARRS | Bruce McClelland | 4/4/2019 | M | 2.6 | $4,738,587.00 |
|
AutoNation, Inc.
|
AN | Michael J. Jackson | 3/11/2019 | M | 19.5 | $92,999,585.00 |
|
Avis Budget Group, Inc.
|
CAR | Larry De Shon | N/A | M | N/A | $14,554,605.00 |
|
Bed Bath & Beyond Inc.
|
BBBY | Steven Temares | 5/13/2019 | M | 16.1 | $172,655,854.00 |
|
Broadridge Financial Solutions, Inc.
|
BR | Richard J. Daly | 1/2/2019 | M | 11.8 | $145,700,039.00 |
|
Bunge Ltd
|
BG | Soren Schroder | 4/25/2019 | M | 5.9 | $23,781,957.00 |
|
C H Robinson Worldwide Inc
|
CHRW | John Wiehoff | 5/9/2019 | M | 17.0 | $78,326,522.00 |
|
CACI International Inc
|
CACI | Kenneth Asbury | 7/1/2019 | M | 6.4 | $48,412,130.00 |
|
Campbell Soup Company
|
CPB | 3Keith R. McLoughlin | 1/22/2019 | M | 0.7 | N/A |
|
Casey's General Stores, Inc.
|
CASY | Terry Handley | 6/23/2019 | M | 3.14 | $4,478,302.00 |
|
Celanese Corporation
|
CE | Mark C. Rohr | 5/1/2019 | M | 7.1 | $62,711,773.00 |
|
Cognizant Technology Solutions Corp
|
CTSH | Francisco D'Souza | 4/1/2019 | M | 12.2 | $191,432,535.00 |
|
Colgate Palmolive Co
|
CL | Ian Cook | 4/2/2019 | M | 11.8 | $227,790,773.00 |
|
Constellation Brands, Inc.
|
STZ | Robert Sands | 3/1/2019 | M | 11.6 | $260,531,130.00 |
|
DaVita Inc.
|
DVA | Kent Thiry | 6/1/2019 | M | 19.6 | $353,118,972.00 |
|
DTE Energy Company
|
DTE | Gerard Anderson | 7/1/2019 | M | 8.75 | $110,546,248.00 |
|
DuPont de Nemours, Inc.
|
DD | Edward Breen | 6/1/2019 | M | 1.75 | $16,444,605.00 |
|
Everest Re Group Ltd
|
RE | Dominic J. Addesso | 12/31/2019 | M | 6.0 | $25,071,400.00 |
|
Flex Ltd.
|
FLEX | Michael McNamara | 2/5/2019 | M | 13.1 | $158,248,544.00 |
|
Fluor Corporation
|
FLR | David Seaton | 5/1/2019 | M | 8.2 | $66,015,926.00 |
|
GameStop Corp.
|
GME | Shane Kim | 4/15/2019 | M | 1.0 | N/A |
|
Gilead Sciences, Inc.
|
GILD | 3Gregg H. Alton | 2/28/2019 | M | 0.2 | N/A |
|
Laboratory Corporation of America Holdings
|
LH | David King | 10/31/2019 | M | 12.8 | $170,395,571.00 |
|
McKesson Corp
|
MCK | John H. Hammergren | 3/31/2019 | M | 19.7 | $800,101,224.00 |
|
Metlife Inc
|
MET | Steven A. Kandarian | 4/30/2019 | M | 8.0 | $71,057,833.00 |
|
Newell
|
NWL | Michael Polk | 6/30/2019 | M | 8.0 | $100,388,081.00 |
|
Newmont Mining Corporation
|
NEM | Gary Goldberg | Q4 2019 | M | N/A | $35,951,589.00 |
|
Nordstrom Inc
|
JWN | Blake Nordstrom | 1/2/2019 | M | 18.4 | $55,451,590.00 |
|
Old Republic International Corporation
|
ORI | Aldo Zucaro | 10/1/2019 | M | 29.7 | $15,980,435.00 |
|
Owens & Minor Inc
|
OMI | Robert Sledd | 3/4/2019 | M | 0.3 | N/A |
|
Owens Corning
|
OC | Michael H. Thaman | 4/18/2019 | M | 11.4 | $114,320,653.00 |
|
PACCAR Inc.
|
PCAR | Ronald Armstrong | 6/30/2019 | M | N/A | $31,763,667.00 |
|
PG&E Corp
|
PCG | Geisha J. Williams | 1/13/2019 | F | 1.9 | $4,538,174.00 |
|
Pilgrim's Pride Corporation
|
PPC | William W. Lovette | 3/22/2019 | M | 8.2 | $36,505,700.00 |
|
Rite Aid Corporation
|
RAD | John Standley | N/A | M | N/A | $78,606,510.00 |
|
Science Applications International Corp
|
SAIC | Anthony J Moraco | 7/31/2019 | M | 5.8 | $28,967,286.00 |
|
The Kraft Heinz Company
|
KHC | Bernado Hees | 6/30/2019 | M | 4.0 | $7,775,678.00 |
|
WEC Energy Group, Inc.
|
WEC | Gale E. Klappa | 2/1/2019 | M | 1.1 | N/A |
|
WellCare Health Plans, Inc.
|
WCG | Kenneth Burdick | N/A | M | N/A | $38,041,496.00 |
|
Wells Fargo & Company
|
WFC | Tim Sloan | 3/28/2019 | M | 2.5 | $57,495,492.00 |
1Calulated as the earlier of the effective date or March 31, 2019
2Compensation data collected since 2006
3Interim Chief Executive Officer
| Company | Ticker | Successor | Gender | Internal | Previous Role |
|
Alliance Data Systems Corporation
|
ADS | Melisa A. Miller | F | Y | President, Alliance Data Card Services |
|
Arconic Inc.
|
ARNC | John C. Plant | M | N | Chairman of the Board |
|
ARRIS International plc
|
ARRS | N/A | N/A | N/A | N/A |
|
AutoNation, Inc.
|
AN | Carl C. Liebert | M | N | Executive Vice President and Chief Operating Officer, United States Automobile Association |
|
Avis Budget Group, Inc.
|
CAR | N/A | N/A | N/A | N/A |
|
Bed Bath & Beyond Inc.
|
BBBY | 3Mary Winston | F | Y | Board Member |
|
Broadridge Financial Solutions, Inc.
|
BR | Timothy C. Gokey | M | Y | President and Chief Operating Officer |
|
Bunge Ltd
|
BG | Gregory A. Heckman | M | N | Board Member |
|
C H Robinson Worldwide Inc
|
CHRW | Robert Biesterfeld | M | Y | Chief Operating Officer |
|
CACI International Inc
|
CACI | John Mengucci | M | Y | Chief Operating Officer |
|
Campbell Soup Company
|
CPB | Mark A. Clouse | M | N | Chief Executive Officer, Pinnacle Foods, Inc. |
|
Casey's General Stores, Inc.
|
CASY | Darren M Rebelez | M | N | President of IHOP Restaurants |
|
Celanese Corporation
|
CE | Lori J. Ryerkerk | F | N | Executive Vice President, Global Manufacturing Royal Dutch Shell |
|
Cognizant Technology Solutions Corp
|
CTSH | Brian Humphries | M | N | CEO, Vodafone Business |
|
Colgate Palmolive Co
|
CL | Noel R. Wallace | M | Y | President and Chief Operating Officer |
|
Constellation Brands, Inc.
|
STZ | William A. Newlands | M | Y | President and COO |
|
DaVita Inc.
|
DVA | Javier J. Rodriguez | M | Y | Chief Executive Officer of DaVita Kidney Care |
|
DTE Energy Company
|
DTE | Gerardo Norcia | M | Y | President and Chief Operating Officer |
|
DuPont de Nemours, Inc.
|
DD | C. Mark Doyle | M | Y | Chief Operating Officer for Specialty Products Division |
|
Everest Re Group Ltd
|
RE | N/A | N/A | N/A | N/A |
|
Flex Ltd.
|
FLEX | Revathi Advaithi | F | N | President and Chief Operating Officer, Eaton Corporation Plc. |
|
Fluor Corporation
|
FLR | 3Carlos Hernandez | M | Y | Senior Vice President, Chief Legal Officer and Secretary |
|
GameStop Corp.
|
GME | George Sherman | M | N | Chief Executive Officer, Victra |
|
Gilead Sciences, Inc.
|
GILD | Daniel P. O’Day | M | N | Chief Executive Officer, Roche Pharmaceuticals |
|
Laboratory Corporation of America Holdings
|
LH | Adam H. Schechter | M | Y | Lead Independent Director |
|
McKesson Corp
|
MCK | Brian S. Tyler | M | Y | President and Chief Operating Officer |
|
Metlife Inc
|
MET | Michel A. Khalaf | M | Y | President, U.S. Business and President, Europe, the Middle East, and Africa |
|
Newell
|
NWL | 3Christopher Peterson | M | Y | Executive Vice President and Chief Operating Officer |
|
Newmont Mining Corporation
|
NEM | Thomas Palmer | M | Y | President and COO |
|
Nordstrom Inc
|
JWN | Erik Nordstrom | M | N | Co-President and Director |
|
Owens & Minor Inc
|
ORI | 3Edward A. Pesicka | M | N | Chief Commercial Officer and Senior Vice President, Thermo Fisher Scientific Inc. |
|
Owens Corning
|
OC | Brian D. Chambers | M | Y | President and Chief Operating Officer |
|
PACCAR Inc.
|
PCAR | Preston Freight | M | Y | Executive Vice President of Paccar Inc. |
|
PG&E Corp
|
PCG | William D. Johnson | M | N | President and Chief Executive Officer, Tennessee Valley Authority |
|
Pilgrim's Pride Corporation
|
PPC | Jayson Penn | M | Y | President, U.S. |
|
Rite Aid Corporation
|
RAD | N/A | N/A | N/A | N/A |
|
Science Applications International Corp
|
SAIC | Nazzic S. Keene | F | Y | COO |
|
The Kraft Heinz Company
|
KHC | Miguel Patricio | M | N | Chief of Special Global Projects-Marketing, Anheuser-Busch |
|
WEC Energy Group, Inc.
|
WEC | J. Kevin Fletcher | M | Y | President |
|
WellCare Health Plans, Inc.
|
WCG | N/A | N/A | N/A | N/A |
|
Wells Fargo & Company
|
WFC | C.Allen Parker | M | Y | Senior Executive Vice President and General Counsel |
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, Content Manager, at abatish@equilar.com for more information on Equilar research and data analysis.
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