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The article discusses the impact of diversity, equity, and inclusion (DEI) programs on the workforce at America's biggest companies. Despite corporate diversity pledges, most senior managers are still white men, and initiatives to diversify workforces are facing legal and political backlash. While some progress has been made in increasing diversity, the upper ranks of companies remain predominantly white, with Black and Hispanic employees underrepresented in executive roles. Companies like Amazon and Meta have made efforts to increase diversity, but challenges persist in achieving true equity in the workplace. [Extracted from the article]

The article discusses Brian Niccol, the new CEO of Starbucks, who has already been awarded about $96 million in compensation, including stock awards that compensate for forfeited Chipotle holdings. Niccol's total compensation is significantly higher than that of the median Starbucks employee. The article also highlights Niccol's efforts to improve Starbucks cafes and streamline operations, as well as comparisons to other public company CEOs in terms of compensation ratios. [Extracted from the article]

The article discusses how companies are changing their policies to align with views favored in the Trump 2.0 universe, focusing on cutting regulations and taxes. Business leaders are reconsidering diversity programs, climate-change efforts, and other Trump targets in response to the shifting legal landscape and cooling job market. The article highlights the corporate reversal and the impact of Trump's election win on business decisions, emphasizing the newfound attention and support from CEOs seeking to build relationships with the new administration. [Extracted from the article]

The article discusses the potential financial benefits for wealthy individuals, such as Elon Musk, who transition from business to government roles. It highlights a 34-year-old law that allows individuals like Musk to defer capital gains taxes by putting their assets into government securities or diversified mutual funds. The article also mentions other executives, like Howard Lutnick and Jamie Dimon, who are being considered for government roles and could potentially benefit from similar tax breaks. The piece raises questions about the need for provisions to prevent conflicts of interest in the modern era and suggests that extending such rules could be beneficial. [Extracted from the article]

London-listed companies will have more flexibility to increase the wages of their top executives, as the Investment Association (IA) has changed its guidance for remuneration committees. The IA, which represents large investors in the UK, simplified its principles of remuneration to attract high-quality companies to the UK markets. The move comes after concerns were raised about London's status as a top financial center if executive wages were not increased. The IA's updated principles now allow companies to benchmark their wages against overseas competitors and encourage the use of hybrid pay schemes. [Extracted from the article]

More American workers are seeing a portion of their pay become contingent on meeting specific goals. Incentive pay programs, which include bonuses based on performance, are becoming more common in various roles, not just sales positions. While some workers appreciate the potential for higher earnings, others are concerned about the risk involved and the potential for a lower base salary. The success of these programs often depends on how the compensation is structured and communicated to employees. [Extracted from the article]

GameStop CEO Ryan Cohen has settled an alleged antitrust-law violation with the Federal Trade Commission (FTC) regarding the acquisition of Wells Fargo voting securities. Cohen agreed to pay a $985,320 civil penalty for failing to file a Hart-Scott-Rodino form in a timely manner to disclose the purchase. The Hart-Scott-Rodino Act requires buyers of certain amounts of company stock to alert regulators before completing the acquisition. Cohen acquired over 562,000 voting securities in Wells Fargo, exceeding the filing threshold of $100 million. Cohen joined GameStop's board in 2021 and became CEO in 2023. [Extracted from the article]

Boeing is furloughing white-collar workers in an effort to cut costs and avoid a credit-rating cut during a strike by its largest union. The furloughs will last one week out of every four weeks for the duration of the strike. The strike, which has halted production of the 737 and other jets, could cost the company around $500 million per week. Credit-rating firms have warned that they may downgrade Boeing if the strike continues. CEO Kelly Ortberg and his executive team will take a 25% pay cut for the duration of the strike. The company has also implemented other cost-cutting measures, such as freezing hiring and pay increases. A union representing Boeing engineers has stated that their contract prohibits furloughs and requires company payouts to idled workers in the case of layoffs. The union has not been approached by the company to discuss furloughs or layoffs. The strike was initiated by the machinists union after rejecting a labor deal that did not meet their demands for wage increases and retirement benefits. The company and union have restarted negotiations with the help of a federal mediator. [Extracted from the article]

Norfolk Southern CEO, Alan Shaw, is expected to leave the company amid a board investigation into an alleged relationship he had with an employee. The board of Norfolk Southern has opened an investigation into the allegations, and a law firm has been hired to conduct an independent investigation. Shaw has faced challenges during his tenure, including a train derailment and an activist investor campaign. Several high-profile executives have lost their jobs in recent years over personal relationships that violated company policies. [Extracted from the article]

This document provides a list of the highest-paid CEOs in 2023, based on data from S&P 500 companies. The CEOs are ranked based on their total compensation, including salary, bonuses, and stock options. The list includes CEOs from various industries such as insurance, food and beverage, healthcare, consumer durables, utilities, and more. The data is presented in a sortable table format, and it also includes information on the one-year total shareholder returns for each company. It is important to note that the pay data reflects the value of equity awards at the time of grant, and the shareholder return reflects stock-price changes and dividends during the company's fiscal year. [Extracted from the article]

The article discusses how Elon Musk's multibillion-dollar pay package from 2018 has influenced the landscape of executive pay. Despite being thrown out by a Delaware court, Musk's pay package has set the tone for other high-end pay deals, resulting in more executives receiving outsize pay packages. These packages have the potential to keep growing over time, generating value for CEOs. The article also highlights the increase in the number and cost of pay packages valued at $50 million or more in the past five years. However, such packages remain uncommon. The article provides examples of CEOs who have received these supersize pay packages and explains the structure of these packages, which typically consist of restricted stock or stock options tied to performance targets. [Extracted from the article]

Patrick Gruhn, a former executive at cryptocurrency exchange FTX, has purchased a gold pocket watch that survived the sinking of the Titanic for £1.175 million ($1.5 million). The watch belonged to John Jacob Astor IV, a wealthy passenger on the Titanic who stayed aboard the ship after placing his wife in a lifeboat. Gruhn bought the watch as a gift for his wife and plans to display it in museums. He felt a connection to Astor because both of their families left Germany to seek fortune in the United States. [Extracted from the article]

A recent analysis by the Wall Street Journal reveals that CEOs and other top executives at major US companies are receiving significantly more in flight benefits than what is reported by the companies themselves. The analysis found that the savings for executives who use company aircraft for personal trips are far higher than what is disclosed. For example, Disney reported spending nearly $800,000 on personal flights for CEO Bob Iger, but the Journal estimates that the actual cost would have been over $2 million. The use of corporate jets as a perk for executives is under scrutiny, and the Internal Revenue Service plans to audit personal aircraft use by executives and wealthy individuals. [Extracted from the article]

More company boards are incorporating climate-related goals into executives' compensation plans, as awareness grows about the impact of climate change on corporate bottom lines. However, experts emphasize the importance of tying pay to climate goals in the right way. Climate-related goals should be rooted in science, with clear and measurable targets. The metrics used will vary depending on the company's industry and focus. Compensation should be directly tied to the goals, rather than vague aspirations. Long-term compensation plans should include significant climate incentives, as they represent the majority of CEOs' variable pay. Flexibility should be built into compensation plans to account for setbacks or factors beyond a company's control. Advocates urge companies to start implementing climate-related compensation plans, even if they are not perfect, and update them as necessary. [Extracted from the article]

"In Good Company" is a Norwegian podcast hosted by Nicolai Tangen, the CEO of Norges Bank Investment Management. The podcast features interviews with top CEOs, including Elon Musk, and aims to provide transparency about the companies in which the Norwegian sovereign-wealth fund invests. Tangen takes a conversational approach with his guests, discussing topics such as executive pay, board diversity, and climate change. The podcast has gained popularity and has reached close to three million total downloads. Tangen's unique approach and personal curiosity make the show a valuable resource for those interested in learning about the perspectives and experiences of influential business leaders. [Extracted from the article]

Boeing CEO David Calhoun received $33 million in compensation last year, mostly from stock awards, but gave up a $3 million cash bonus and will receive less stock this year due to a near tragedy on January 5. The board of Boeing has taken steps to tie executive pay to new quality and safety goals following the incident. Calhoun's 2023 compensation totaled $32.8 million, including salary and equity awards, and the value of his equity awards declined by about $8 million through the end of the year. Boeing will also tie incentives to new quality and safety goals, affecting 55% of executives' long-term incentive pay. [Extracted from the article]

BP has clawed back an additional $2.3 million from former CEO Bernard Looney's remuneration package following his dismissal in December. This brings the total amount recovered from Looney to $40.6 million due to what BP called serious misconduct. Looney had failed to disclose past relationships with colleagues, and BP determined that the information he provided was inaccurate and incomplete. The current CEO, Murray Auchincloss, received a remuneration of $8.0 million for 2023. [Extracted from the article]

Chemours, the Teflon maker, has been under investigation for accounting problems that have affected investor confidence. The investigation revealed that top executives at the company delayed payments to vendors and accelerated collections in order to meet cash-flow targets that determined their annual stock and bonus awards. The executives took these actions to boost free cash flow, which was a key metric for determining their incentive compensation. The investigation was prompted by an anonymous complaint and the company has put three leaders on administrative leave while conducting an accounting review. The findings do not affect the company's preliminary financial results for the fourth quarter, but they significantly increased cash-flow measures. [Extracted from the article]

Private-sector investors are often ineffective at overseeing companies, leading state-run funds to step in. The dominance of passive management in the market means little oversight of executive spending and disconnected share prices. State-run funds, such as Norway's oil fund, are becoming more involved with companies and are even seeking permission to start buying companies outright. While there are concerns about political objectives overshadowing financial ones, state-run funds can provide better corporate governance than many shareholders today. [Extracted from the article]

A recent ruling by a Delaware judge has voided Elon Musk's $55.8 billion compensation package at Tesla, leaving both Musk and the company's board members uncertain about the next steps. If Musk were to step aside, it could negatively impact Tesla's stock price and his overall wealth. The ruling has also added to the uncertainty surrounding Tesla, as the company has already experienced a decline in its share price and warned of lower growth in 2024. Tesla's board will likely focus on the core business while considering their options for compensation. [Extracted from the article]

A Delaware judge has struck down Elon Musk's $55.8 billion pay package at Tesla, citing flaws in the approval process and Musk's close ties to the board members who negotiated the deal. The decision raises questions about how Tesla's board will compensate Musk and highlights his personal wealth, which is largely tied up in shares of his companies. Tesla shares fell more than 2% in after-hours trading following the ruling. The electric-vehicle maker may have to draft a new compensation package for Musk, and the board can appeal the decision to the Delaware Supreme Court. [Extracted from the article]

This article discusses the challenges faced by Bob Iger, the CEO of Disney, which are similar to those faced by his predecessor, Michael Eisner. Iger is dealing with the decline of Disney's TV business and losses from streaming, as well as an activist battle with Nelson Peltz and struggles with succession planning. Critics argue that Iger is making the same mistakes as Eisner, while supporters believe that Iger's challenges are unique due to streaming disruption and tech rivals. The article also explores the ongoing campaign led by Peltz and Eisner to replace current board members and make changes to Disney's governance, drawing parallels to a previous campaign led by Roy E. Disney to oust Eisner. [Extracted from the article]

According to a Wall Street Journal analysis, spending on personal travel for executives on company jets has increased by 50% since before the pandemic. In 2022, S&P 500 companies spent $65 million on this perk, with early indications suggesting that the trend continued in 2023. The number of companies providing this benefit rose by 14% since 2019, and the number of executives receiving free flights grew by nearly 25%. While some companies added or expanded the perk due to pandemic health and safety concerns, critics argue that it indicates excessive spending and a desire to please top executives. [Extracted from the article]

Endeavour Mining, a global gold mining company, has removed its CEO, Sébastien de Montessus, following a board investigation into a $5.9 million payment he authorized. De Montessus denies any wrongdoing and claims that the payment was for security equipment to protect the company's partners and employees in a conflict zone. The company's board recently became aware of the payment and terminated de Montessus as president and CEO. Ian Cockerill, the company's deputy chairman and former CEO of Gold Fields, has been appointed as the new CEO. [Extracted from the article]

The chairman of the Florida Republican Party, Christian Ziegler, has been censured by the party's executive committee following a rape allegation. Ziegler's salary and duties have been revoked, although he has not been removed from office. His wife, Bridget Ziegler, a founder of Moms for Liberty, has also faced calls to resign from the school board. The controversy stems from allegations of a sexual encounter involving the Zieglers and another woman, which has led to criticism of Bridget Ziegler's support for a law restricting discussion of sexual orientation in schools. [Extracted from the article]

Former BP CEO Bernard Looney will lose out on up to $40.6 million in compensation due to his abrupt resignation over past relationships with colleagues. BP's board determined that Looney provided inaccurate and incomplete assurances about his past relationships, leading to the decision to claw back his bonus money. The estimate includes unvested share awards and a portion of bonus payments that Looney will have to pay back. Clawing back executive pay has become more common in recent years, and this decision is in line with that trend. [Extracted from the article]

The United Auto Workers (UAW) recently achieved a significant victory in contract negotiations with Detroit automakers, thanks to the efforts of three young activists who brought a fresh approach to the union. Despite having no experience in auto factories, these activists implemented a more aggressive and media-savvy strategy, which included criticizing CEO pay and focusing on rank-and-file workers. After a six-week strike, the UAW secured tentative deals with Ford, Chrysler-parent Stellantis, and General Motors, resulting in the most lucrative contracts in decades, including a 25% wage increase over 4.5 years. While the UAW's new approach has received both praise and criticism from industry executives, some members of the union have expressed dissatisfaction with the tactics used, considering them extreme or flippant. The article does not provide specific details about the issues or disputes the UAW is fighting for. [Extracted from the article]

Pay ratios, which were mandated for disclosure by the Securities and Exchange Commission in 2018, are a function of two numbers: a CEO's pay divided by the pay of the median employee - the person in the middle when the workforce is lined up from highest-paid to lowest. By one measure - the ratio of the CEO's pay to the median worker's - automakers have a wider pay gap than most large companies. Photo: Eric Feferberg/Agence France-Presse/Getty Images United Auto Workers President Shawn Fain has criticized the Big Three automakers for the raises given to their CEOs in the past few years, saying wage gains for rank-and-file employees haven't kept pace. [Extracted from the article]

Keywords: wsjcorp; gfx-contrib; Energy; Oil and Gas Upstream Operations; Oil extraction; Biotechnology Services; Pharmaceuticals; Motor Vehicles; Alternative Fuel Vehicles; Healthcare/Life Sciences EN wsjcorp gfx-contrib Energy Oil and Gas Upstream Operations Oil extraction Biotechnology Services Pharmaceuticals Motor Vehicles Alternative Fuel Vehicles Healthcare/Life Sciences N.PAG N.PAG 1 05/17/23 20230516 NES 230516 Two-thirds of S&P 500 chief executives finished the year with less compensation than initially awarded; Elon Musk's $10 billion hole The stock awards that Elon Musk got for running Tesla TSLA -0.97% decrease; red down pointing triangle lost nearly $10 billion in value last year. Two Ways to Calculate CEO PayPublic companies are now disclosing how much CEO pay packages rose or fell over the course of the year based on factors including gains and losses in stock awards. Expedia CEO Peter Kern got $1 million in 2022 but had one of the biggest 2021 pay packages among S&P 500 companies, valued at roughly $296 million at the time. [Extracted from the article]

Keywords: wsjcorp; gfx-contrib; Energy; Crude Oil/Natural Gas Upstream Operations; Support Activities for Oil/Gas; Wholesalers; Retail/Wholesale; Fossil Fuels; Financial Performance; Share Price Movement/Disruptions EN wsjcorp gfx-contrib Energy Crude Oil/Natural Gas Upstream Operations Support Activities for Oil/Gas Wholesalers Retail/Wholesale Fossil Fuels Financial Performance Share Price Movement/Disruptions N.PAG N.PAG 1 03/09/23 20230306 NES 230306 Companies for first time must tell how much stock awards soar or shrink; for one CEO, a $24 million difference For the first time, public companies are revealing how much compensation their CEOs are actually poised to get, by tabulating gains and losses in the stock awards that make up much of their pay packages. The equity component of Mr. Chambers's actual-pay figure includes the company's estimate of year-end values, not a measure of realized market gains, the spokesman added, and 60% of the 2022 awards are tied to company performance measures. [Extracted from the article]

Cash and checks are forecast to fall to 14% of total payments this year from 42% in 2010, with the most precipitous drop coming just after the pandemic started in 2020, according to Euromonitor estimates. Keywords: photo-commission; Banking; Commercial Banking; Banking/Credit; Financial Services; SYND; WSJ-PRO-WSJ.com; PayPal Holdings; PYPL; Block EN photo-commission Banking Commercial Banking Banking/Credit Financial Services SYND WSJ-PRO-WSJ.com PayPal Holdings PYPL Block N.PAG N.PAG 1 03/08/23 20230304 NES 230304 The pandemic drove digital-payment surge for many, but those who depend on cash are feeling crunch The slow move toward a cashless society is helping to send the ubiquitous ATM into decline around the U.S., presenting challenges for those who still largely rely on cash. [Extracted from the article]

Zach Goldsztejn, an Amazon spokesman, said the company still plans to eventually build out the second phase of the HQ2 project and house 25,000 employees. Keywords: wsjspeeddesk; wsjcorp; Retail/Wholesale; Etailing; E-commerce; Online Service Providers; Retail; Technology; Corporate Changes; Capacity/Facilities EN wsjspeeddesk wsjcorp Retail/Wholesale Etailing E-commerce Online Service Providers Retail Technology Corporate Changes Capacity/Facilities N.PAG N.PAG 1 03/08/23 20230304 NES 230304 The company will hold off on breaking ground on the project's second phase Graph: The site of Amazon's second headquarters project in Arlington, Va., on Friday. Amazon grew rapidly at the start of Covid-19 pandemic, but like many other tech companies, the company has recently looked to slash jobs. [Extracted from the article]

Mr. Easterbrook led McDonald's from 2015 until he was fired by the company in 2019, when McDonald's said that Mr. Easterbrook had violated company policy on personal conduct because of a consensual relationship with an employee. Keywords: wsjcorp; Lodgings/Restaurants/Bars; Restaurants/Cafes/Fast Food Places; Limited-Service Restaurants/Cafes; Leisure/Arts/Hospitality; Corporate Crime/Legal Action; Regulation/Government Policy; Management; Management Moves; Labor/Personnel EN wsjcorp Lodgings/Restaurants/Bars Restaurants/Cafes/Fast Food Places Limited-Service Restaurants/Cafes Leisure/Arts/Hospitality Corporate Crime/Legal Action Regulation/Government Policy Management Management Moves Labor/Personnel N.PAG N.PAG 1 01/12/23 20230110 NES 230110 Fast-food chain fired Steve Easterbrook in 2019 over relationship with employee Graph: McDonald's fired Steve Easterbrook for violating company policy on personal conduct. [Extracted from the article]