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— Six of the 10 best-paid CEOs in 2007 in The Associated Press survey of Standard & Poor's 500 companies made less money last year. Two left their posts altogether. One saw their compensation rise. Here's a rundown of how they fared. CEOs are listed with the companies they headed in 2007.
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1. Larry Ellison, Oracle Corp.
— 2008 (fiscal year) pay: $84.6 million.
— Status: Still CEO.
The software magnate's fiscal 2008 pay included $71 million in stock and options, a $10.7 million cash performance bonus and $1.4 million worth of personal security. Oracle hasn't yet reported his pay for its latest 2009 fiscal year, which ends in May.
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2. John Thain, Merrill Lynch
— 2007 pay: $83 million.
— Status: Resigned in January 2009 from Bank of America.
Thain was wooed from the New York Stock Exchange to Merrill in December 2007 with a huge pay package, supercharged by a signing bonus and other enticements. He brokered the deal to sell Merrill to Bank of America in what was considered a lifesaving move for the company. But he then came under fire for having paid out $3.6 billion in bonuses to Merrill employees just before the deal closed, and for spending more than $1 million to redecorate his office at Merrill, despite its massive losses.
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3. Leslie Moonves, CBS Corp.
— 2007 pay: $67.6 million.
— 2008 pay: $20.8 million.
— Status: Still CEO.
Moonves' total for 2007 was boosted by a one-time grant of stock options tied to a change in how his pay package was structured. In 2008, his salary was $3.5 million, down a third from $5.3 million in 2007, and his cash bonus was cut nearly in half to $9.5 million, from $18.5 million a year earlier. Moonves' total compensation for 2008 is not included in AP's sample of S&P 500 companies because CBS reported his pay after the AP survey deadline of April 20, 2009.
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4. Richard Adkerson, Freeport-McMoran Copper & Gold Inc.
— 2007 pay: $65.3 million
— 2008 pay: $72.4 million
— Status: Still CEO.
The mining company CEO's pay rose last year, much of it driven by stock awards granted in 2008 to compensate him for his performance in 2007. In 2008, he did not receive a bonus. Adkerson's total compensation for 2008 is not included in AP's sample of S&P 500 companies because Freeport reported his pay after the AP survey deadline of April 20, 2009.
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5. Bob Simpson, XTO Energy Inc.
— 2007 pay: $56.6 million.
— 2008 pay: $53.5 million.
— Status: Retired as CEO on Dec. 1, 2008.
Simpson, who founded XTO Energy, has served as CEO or held similar positions from 1986 until his retirement. He still serves as chairman.
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6. Lloyd Blankfein, Goldman Sachs Group Inc.
— 2007 pay: $53.9 million.
— 2008 pay: $42.9 million.
— Status: Still CEO.
Most of what the investment bank paid Blankfein in 2008 came from stock and options awarded for his performance the previous year. He was awarded no performance-based pay for his work in fiscal year 2008, when the company reported its first quarterly loss since becoming a public company.
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7. Kenneth Chenault, American Express Co.
— 2007 pay: $51.7 million.
— 2008 pay: $42.9 million.
— Status: Still CEO.
Much of Chenault's pay for 2008 is in stock options and awards that have little current value because the credit card company's stock fell more than 60 percent.
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8. Eugene Isenberg, Nabors Industries Ltd.
— 2007 pay: $44.6 million.
— Status: Still CEO.
Isenberg got a boost in 2007 from a $22.5 million cash bonus and $21 million in stock awards that were related to his performance the previous year. The oil company has not yet reported his pay for its 2008 fiscal year.
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9. John Mack, Morgan Stanley
— 2007 pay: $41.7 million.
— 2008 pay: $1.2 million.
— Status: Still CEO.
Mack didn't get a raise, a bonus or any stock from the investment bank in 2008. Morgan Stanely's stock lost 70 percent of its value during its last fiscal year ended Nov. 30.
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10. Glenn Murphy, Gap Inc.
— 2007 pay: $39.1 million.
— 2008 pay: $5.4 million.
— Status: Still CEO.
The clothing company didn't give Murphy any stock awards last year. He had received more than $35 million in stock compensation in August 2007 tied to his hiring as CEO. Gap stock fell 39 percent during its fiscal year ended Jan. 31, 2009.
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Source: AP CEO pay data, company reports
