by Peter High, published on Forbes
Of those CIOs who work at multi-billion dollar, publicly traded companies, the list is in excess of 15 executives at least according to research done by Henry L. Schuck and Rob Liander of DiscoverOrg. It is noteworthy that the average across the top ten is $3,372,977. This about $100,000 higher than the top ten from a list I put together from based on 2012 compensation figures.
A few interesting characteristics pop out upon reviewing this list more thoroughly. First, half of the ten CIOs have additional responsibilities:
- Rob Carter is the EVP of FedEx Information Services & CIO of FedEx
- Pawan Verma is the SVP and Chief Information & Technology Officer of Foot Locker
- David Thompson is the EVP of Global Operations & CIO of Western Union
- Jon Stevens is the SVP of Operations & CIO at CDW
- Dale Asplund is the SVP of Business Services & CIO of United Rentals
It is not surprising that those CIOs who have taken on a broader set of responsibilities would be compensated at a higher level. Moreover, the path to get these additional responsibilities were through extraordinary work done while “only” being a CIO prior to accruing additional responsibilities.
It is also noteworthy that eight of the ten report to the CEOs of their businesses. These CIOs do not require any translation of the CEO’s imperatives through another executive. They are treated as true members of the executive team, and are present when corporate strategy is created. At the Forbes CIO Summit in 2014, FedEx founder and CEO, Fred Smith indicated that there is not a single strategic imperative that is approved that does not go through his CIO Rob Carter, as an example.