Word: compensationitis
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COMPENSATION
RadioShack paid its CEO $1.5 million in 2004. The compensation of Hershey’s CEO reached $9.9 million, according to Mercer Human Resource Consulting.
Summers’ spokesman, John Longbrake, declined to comment on compensation matters yesterday.
Summers’ salary rose at a faster rate than Provost Steven E. Hyman’s pay. The University’s second-highest-ranking employee earned $387,532 in compensation, up 4.2 percent, and he received an additional $29,407 contribution to his benefit plan.
Harvard’s highest-paid investment managers, meanwhile, took huge cuts in compensation. David Mittelman and Maurice Samuels earned $17.9 million and $16.8 million, respectively. Both bond managers earned slightly over $25 million in the 2004 fiscal year.