by Peter High, published on Forbes.com
There are an increasing number of chief information officers who earn upwards of $1 million in salary and bonuses annually. Most of them are unknown, as compensation for CIOs are not necessarily disclosed at public companies, and private companies need not report the compensation packages of employees. The fact that a growing number of IT executives receive such hefty pay packages is a sign for the important work they are doing, their ability to definitively convey the value that they and their teams contribute to the company, and the increasingly important role that information technology has in most businesses.
Janco Associates has compiled a list of 15 CIOs who earned more than $1 million in 2012 leveraging SEC data. (The original list includes 20 executives, but five of them are not CIOs.) There are some interesting trends. First, over half of the people on the list (eight of the 15) held additional titles to that of the CIO during 2012. This is a phenomenon I refer to as the CIO-plus. I profiled a variety of CIO-pluses, some of whom earn more than $1 million, but do not appear on the list, as their companies do not disclose this fact.
It is interesting to assess the “plus” roles, as well:
- Three leaders in the top ten are heads of global businessservices organizations in addition to holding the titles of CIO:
- Number one on the list is Filippo Passerini, who is CIO and President of Global Business Services at Procter & GamblePG +0.76%. He has been essential in providing data that feeds P&G’s digital war rooms, which allow leaders from across the globe to gain clearer insights upon which to base better business decisions.
- Number two, Rob Carter was CIO and co-CEO of FedExFDX +0.55%Corporate Services in 2012. (He gave up the latter title in 2013, and is currently the CIO only.) Like Passerini, Carter has been a veteran with his company, his technical prowess only surpassed by his business acumen, and thus the rationale for him to be the co-head of Corporate Services is excellent.
- Number ten on the list is Elizabeth Hackenson, CIO and SVP of Global Business Services atAESAES -0.14% Corporation.