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Honeywell CEO took home $16.5 mn in 2017, 333 times than median employees

Honeywell International is the first S&P 100 company to disclose the ratio

Anders Melin | Bloomberg 

Honeywell launches electronic product lab in Hyderabad

disclosed that CEO Darius Adamczyk’s $16.5 million pay package for last year amounts to about 333 times more than what the company’s median employee earned, making it the first company to disclose the ratio.

The Morris Plains, New Jersey-based firm reported the ratio in a regulatory filing. Thousands of publicly traded US businesses will make their inaugural disclosures this year under a mandate of the 2010 Dodd-Frank Act. Adamczyk’s 2017 compensation, which increased 60 per cent from a year earlier, included $1.41 million in salary and a $5.72 million cash bonus, according to the filing. The median employee — half of Honeywell’s 131,000 workers earn more and half make less — was paid $50,296 last year.

On February 12, Teva Pharmaceutical Industries  disclosed a ratio of 302-to-1, comparing CEO Kare Schultz’s $19.4 million annualised pay to the median worker’s $64,081. That same day, Apollo Global Management, reported a 1-to-1 ratio, with CEO Leon Black’s $251,888 compensation almost matching the $249,750 for the firm’s median employee. Black’s total didn’t include the $191 million in dividends he received on his shares of the company.

First Published: Sun, February 18 2018. 00:41 IST