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Bodyguards, chauffeurs, private jets, free booze and state-of-the-art security systems were all among perks received by the chief executives of U.S. public companies in 2012. Here's a rundown of the top rewards:
According to executive pay research company Equilar, the median value of perks received by chief executives of large, listed U.S. companies in 2012 was about $160,000 (U.S.) – and that’s on top of their median pay of $9.7-million. Private jets like this one are, of course, a staple.
(Yulia Kuznetsova/Getty Images/iStockphoto)
Some of those perks are specifically tailored to the company. For instance, Wynn Resorts keeps a suite open all year at the Wynn Las Vegas for CEO Steve Wynn, at a cost of $452,000.
Wynn says having its founder – who doesn’t own a home in Las Vegas – “in residence” is a “tremendous benefit to our guests and shareholders,” AP reports.
Samuel Palmisano, former CEO of IBM, received an unusual gift when he retired: A $1-million office renovation. (We couldn't find a picture, but it's safe to assume it included walnut panelling.)
And, to help out in his newly renovated office, Mr. Palmisano was guaranteed an administrative assistant for life. IBM told AP the gift was consistent with past practice.
(CLARO CORTES IV/REUTERS)
Assistance in purchasing or selling personal property is a common perk for top executives. Advanced Micro Devices, for instance, bought CEO Rory Read’s $790,000 home (not pictured) when he couldn’t sell it, and gave him another $180,000 to cover the rest of his mortgage which, sadly, exceeded the asking price of his home.
(Hemera Technologies/Getty Images)
Diebold Inc. cut back on executive perks, but retained country club benefits for CEO Thomas Swidarski at a cost of $72,280.
Diebold said Mr. Swidarski, “more so that our other executives, would benefit from the business development and networking opportunities.” Mr. Swidarski resigned in January.
Bermuda-based Axis Capital Holdings helps some executives cover the cost of a second home in Bermuda. New CEO Albert Benchimol received a $25,000 housing allowance last year – on top of his total remuneration, including stock awards, that could be worth more than $22-million.
Las Vegas Sands spent $2.8-million on security for CEO Sheldon Adelson and his family.
(Jupiterimages/Getty Images/Comstock Images)
Adelson, shown with his wife Miriam Ochsorn, is a major donor to the Republican Party. His total pay last year was about $10.7-million.
(Charles Dharapak/The Associated Press)
Amazon Corp. also provided a home security system for its CEO, Jeff Bezos, but spent just $1.6-million on it, according to GMI Ratings.
And finally, Constellation Brands CEO Robert Sands received a $10,000 “product allowance” last year. The maker of Svedka vodka and Black Velvet whiskey said the cash would allow Mr. Sands, who made $7.7-million in 2012, to expand his “knowledge and appreciation of our products.”
(Bruce Shippee/Getty Images/iStockphoto)