With the economy improving, executives see pay increases, bonuses and equity awards again
May 22, 2011 12:00 am

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Mylan chairman and CEO Robert J. Coury was the region's highest-compensated executive last year, receiving pay of $22.9 million.

The generic drug company executive ousted William R. Johnson, H.J. Heinz's chairman, president and CEO and the two-time defending champion of the Post-Gazette's Fortunate 50. Mr. Johnson finished third, with fiscal 2010 pay of $19 million, behind Mr. Coury and Consol Energy CEO J. Brett Harvey, whose compensation totaled $20.2 million.

Average compensation of a Fortunate 50 executive last year was $6.5 million, up 11 percent from the previous year. The lowest-paid Fortunate 50 member -- Consol's P. Jerome Richey ($3.1 million) -- made 28 percent more than last year's No. 50, Stephen A. Van Oss of Wesco International.

Four companies -- H.J. Heinz, Allegheny Technologies, PNC Financial Services Group and U.S. Steel -- accounted for 40 percent of the Fortunate 50. Each placed five executives on the roster. Consol and Mylan each had four executives on the list.


Three females made the list, led by Mylan President Heather Bresch (No. 22, $5.3 million). She was joined by another repeat performer, U.S. Steel chief financial officer Gretchen R. Haggerty (No. 30, $4 million) and a newcomer, DynaVox president and chief operating officer Michelle L. Heying (No. 29, $4.1 million).

Higher pay for Pittsburgh-area executives mirrors national trends. Median pay among CEOs of more than 300 S&P 500 companies increased 28 percent last year to $9 million, according to Equilar, a Redwood City, Calif., firm that compiles compensation data.

"It's not a surprise that pay is up," said Aaron Boyd, Equilar's head of research. "With the economy improving, we're starting to see a lot of companies pay out bonuses again, give out equity awards again."

Len Boselovic: or 412-263-1941.
First Published 2012-02-13 03:00:57
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