This blog is part of a long series of blog posts where we analyze the pay of Chief Financial Officers of S&P 500 US Companies. This blog is part 1 of the 10 blogs that will go through companies each in an alphabetical order. This blog covers all S&P 500 companies with names beginning with “A”.
No surprises on the first three CFOs on the list. Ruth Porat, Luca Maestri, and Brian Olsavsky of Google, Apple, and Amazon tops the list.
- Ruth Porat earned a total compensation of $50.89 million in 2020 comprising of a stock award of $50.22 million. Ruth earned $664K and $47 million in 2019 and 2018 respectively.
- Luca Maestri earned a total compensation of $26.25 million in 2020 comprising of a stock award of $21.66 million and a salary of $1 million. Maestri earned an average of $26 million in compensation for the past 3 years.
- Brian Olsavsky earned a total compensation of $17.17 million in 2020 comprising of a stock award of $17.01 million. Olsavsky earned $163K and $6.9 million in 2019 and 2018 respectively.
Porat has a BS degree from Stanford and a MBA from the Wharton School. Porat worked with Morgan Stanley for 27 years becoming their CFO in 2010. Porat later joined Google in 2015.
Maestri graduated from Luiss University in Rome with a bachelor’s degree in Economics and earned a master’s degree in Science of Management from Boston University. Prior to joining Apple in 2013, Maestri was CFO at Xerox and previously at Nokia Siemens Networks.
Brian Olsavsky has a B.S in Mechanical Engineering from Penn State and an MBA from Carnegie Mellon. Olsavsky worked for 7 years in Fisher Scientific until 2002 prior to joining Amazon. Olsavsky has currently been with Amazon for 19+ years.
A major portion of CFOs compensation (63%) is tied to Stock awards followed by non-equity incentive plan compensation and option awards.
A data table of CFOs salary analyzed is provided below:
| Company | CFO | Salary | Bonus | Stock Awards | Option Awards | Non-Equity | Pension value & Def. Comp. | Other Comp. | Total ($ millions) |
| Alphabet (Class A) | Ruth M. Porat | 0.66 | – | 50.22 | – | – | – | 0.02 | 50.89 |
| Apple | Luca Maestri | 1.00 | – | 21.66 | – | 3.58 | – | 0.02 | 26.25 |
| Amazon | Brian T. Olsavsky | 0.16 | – | 17.01 | – | – | – | 0.00 | 17.17 |
| AT&T | J. Stephens | 1.15 | 0.25 | 10.75 | – | 2.03 | 1.06 | 0.91 | 16.14 |
| AbbVie | Robert A. Michael | 1.07 | – | 5.41 | 1.29 | 2.11 | 3.57 | 0.05 | 13.49 |
| Activision Blizzard | Dennis Durkin | 0.91 | – | 10.90 | – | 1.16 | – | 0.03 | 13.00 |
| Aon | Christa Davies | 1.00 | – | 6.78 | – | 1.30 | – | 3.16 | 12.24 |
| American Express | J.C. Campbell | 1.00 | 3.29 | 4.86 | 1.06 | 1.29 | – | 0.21 | 11.70 |
| Aptiv | Joseph R. Massaro | 0.86 | – | 9.11 | – | 0.61 | – | 0.10 | 10.67 |
| American International Group | Mark D. Lyons | 1.00 | – | 5.29 | 0.82 | 3.06 | – | 0.06 | 10.24 |
| Adobe | John Murphy | 0.64 | – | 8.58 | – | 0.67 | – | 0.01 | 9.89 |
| Abbott Laboratories | Robert E. Funck, Jr. | 0.81 | – | 2.22 | 2.22 | 1.28 | 3.10 | 0.17 | 9.80 |
| Ameriprise Financial | Walter S. Berman | 0.68 | – | 3.77 | 1.13 | 2.62 | 0.85 | 0.15 | 9.20 |
| ADM | R. G. YOUNG | 0.85 | – | 5.84 | – | 1.75 | 0.07 | 0.02 | 8.55 |
| 3M | Monish Patolawala | 0.44 | 0.70 | 5.66 | 0.81 | 0.38 | – | 0.03 | 8.02 |
| Altria Group | Salvatore Mancuso | 0.62 | 0.62 | 2.79 | – | – | 3.73 | 0.07 | 7.82 |
| Accenture | KC McClure | 0.98 | – | 4.84 | – | 1.49 | – | 0.01 | 7.31 |
| Alexandria Real Estate Equities | Dean A. Shigenaga | 0.64 | 1.17 | 5.16 | – | – | 0.05 | 0.05 | 7.06 |
| Amcor | Michael Casamento | 0.83 | – | 2.26 | 1.60 | 1.32 | – | 0.68 | 6.69 |
| Amgen | Murdo Gordon | 1.00 | – | 2.80 | 1.20 | 1.41 | – | 0.15 | 6.56 |
| APA Corporation | Stephen J. Riney | 0.80 | – | 4.35 | – | 1.09 | – | 0.25 | 6.49 |
| Autodesk | R. Scott Herren | 0.56 | – | 5.66 | – | – | – | – | 6.22 |
| Advanced Micro Devices | Devinder Kumar | 0.60 | – | 3.81 | 0.94 | 0.82 | – | 0.02 | 6.19 |
| Applied Materials | Daniel J. Durn | 0.63 | – | 4.46 | – | 0.98 | – | 0.01 | 6.07 |
| Ameren Corp | Michael L. Moehn | 0.70 | – | 3.64 | – | 0.58 | 0.67 | 0.08 | 5.67 |
| Anthem | John E. Gallina | 0.85 | – | 2.44 | 0.81 | 1.18 | 0.01 | 0.11 | 5.40 |
| Allstate Corp | Mario Rizzo | 0.75 | – | 1.43 | 0.86 | 1.25 | 0.52 | 0.03 | 4.84 |
| Abiomed | Todd A. Trapp | 0.43 | – | 3.50 | 0.50 | 0.33 | – | 0.01 | 4.77 |
| American Electric Power | Brian X. Tierney | 0.83 | – | 2.16 | – | 1.05 | 0.42 | 0.11 | 4.57 |
| Allegion | P. S. Shannon | 0.60 | – | 1.08 | 0.33 | 0.25 | 2.18 | 0.10 | 4.53 |
| Ansys | Nicole Anasenes | 0.07 | – | 4.45 | – | – | – | – | 4.52 |
| Air Products & Chemicals | M. Scott Crocco | 0.65 | – | 1.84 | – | 0.84 | 1.13 | 0.01 | 4.46 |
| Arthur J. Gallagher & Co. | Doug Howell | 0.90 | – | 0.98 | 0.17 | 1.58 | 0.00 | 0.72 | 4.35 |
| AmerisourceBergen | James F. Cleary | 0.70 | – | 1.75 | 0.75 | 0.89 | – | 0.19 | 4.28 |
| American Tower | Rodney M. Smith | 0.53 | – | 2.85 | – | 0.76 | – | 0.03 | 4.17 |
| Automatic Data Processing | Kathleen A. Winters | 0.65 | 1.25 | 0.70 | 0.90 | 0.51 | – | 0.13 | 4.13 |
| AutoZone | William T. Giles | 0.68 | – | 0.03 | 2.03 | 1.10 | – | 0.13 | 3.96 |
| Analog Devices | Prashanth Mahendra-Rajah | 0.58 | – | 1.95 | 0.65 | 0.45 | – | 0.06 | 3.68 |
| Assurant | Richard S. Dziadzio | 0.68 | – | 1.99 | – | 0.77 | – | 0.24 | 3.67 |
| Agilent Technologies | Robert McMahon | 0.64 | – | 2.61 | – | 0.36 | – | 0.05 | 3.66 |
| Arista Networks | Ita Brennan | 0.30 | – | 3.17 | – | 0.14 | – | 0.01 | 3.62 |
| Align Technology | John F. Morici | 0.54 | – | 2.58 | 0.45 | – | 0.01 | 3.58 | |
| AvalonBay Communities | Kevin P. O’Shea | 0.62 | – | 2.19 | – | 0.73 | – | 0.03 | 3.57 |
| American Airlines Group | Derek Kerr | 0.60 | – | 2.93 | – | – | – | 0.03 | 3.56 |
| Akamai Technologies | Edward McGowan | 0.46 | – | 3.07 | – | – | – | – | 3.53 |
| Amphenol Corp | C.A. Lampo | 0.60 | – | – | 2.63 | 0.18 | 0.01 | 0.04 | 3.46 |
| Albemarle Corporation | Scott A. Tozier | 0.56 | – | 1.87 | 0.28 | 0.51 | – | 0.10 | 3.31 |
| Alaska Air Group | Shane R. Tackett | 0.42 | – | 1.42 | 0.44 | 0.42 | 0.12 | 0.13 | 2.94 |
| Ametek | William J. Burke | 0.58 | 0.10 | 1.22 | 0.30 | 0.24 | 0.37 | 0.10 | 2.90 |
| Avery Dennison | Gregory S. Lovins | 0.62 | – | 1.23 | – | 0.65 | 0.08 | 0.13 | 2.70 |
| AES Corp | Gustavo Pimenta | 0.55 | – | 1.28 | – | 0.60 | – | 0.08 | 2.51 |
| Aflac | Max K. Brodén | 0.56 | – | 0.98 | – | 0.62 | – | 0.20 | 2.35 |
| Alliant Energy | Robert J. Durian | 0.54 | – | 1.03 | – | 0.48 | 0.14 | 0.15 | 2.33 |
| American Water Works | M. Susan Hardwick | 0.58 | – | 0.91 | – | 0.50 | – | 0.10 | 2.10 |
| Atmos Energy | Christopher T. Forsythe | 0.47 | – | 0.73 | – | 0.31 | 0.28 | 0.22 | 2.01 |
| Advance Auto Parts | Jeffrey W. Shepherd | 0.60 | – | 0.91 | – | 0.48 | – | 0.00 | 1.99 |
| A. O. Smith | Charles T. Lauber | 0.51 | – | 0.30 | 0.30 | 0.44 | 0.12 | 0.09 | 1.75 |
