THE ANNUAL FORTUNATE 50

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.


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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: lboselovic@post-gazette.com or 412-263-1941.
First Published 2012-02-13 03:00:57
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