https://www.bizjournals.com/charlotte/news/2019/04/19/lowe-s-new-ceo-earned-half-of-2018-compensation-in.html
Everything that is wrong about the stock market and how corporations pay their executives. is it any wonder that theyre paid like this when theyre brought in by boards and activist shareholders that only care about the stock number?! marvin put in what? 7 months of work and made over 14 million! He worked tirelessly to get that stock up knowing it would inflate his salary. Beyond shady to be the top executive in a corporation.....be privy to all sorts of insider and privileged information ......be able to directly make decisions that affect the stock number....and have a huge portion of your salary paid in stock!!! Increasing sales be damned! increasing the health of the company be damned!
whats even more egregious is that CFO David Denton made 3 million in 2018 at lowes....a position he actually probably worked for 2 months tops! They named him to the position at the end of august...but CVS wouldnt let him leave until a deal he was involved with went through. crooms who was cfo retired oct. 5th and lowes announced an interm cfo would start on october 2nd. All this means Denton likely did none or next to no work for lowes in 2018 but still profited in a huge way.
The store worker works his a-- off and maybe gets 25 bucks as a bonus....but Denton likely does nothing to benefit lowes and pockets a cool million for it.
".....The ratio of the annual total compensation for Ellison to the median compensation for employees is 459 to 1....." I'm all for a CEO making more. they shoulder more of the burden and blame for a companies success. however, no one individual...especially a ceo of a retailer.... will ever bring this kind of value to justify paying them this kind of money.