Les Billets de Monocle

Stop messing around

23 May 2022

It's good to be a CEO of a large company. A little too much in our opinion.

In 2021, the CEO of a listed US company is paid an average of nearly $15 million. That's 2x more than 10 years ago.

30 of them are paid more than $30 million.

 

 

We are shareholders in Intel. When we opened the Proxy (the document that specifies executive compensation), Charles cracked the team's eardrums: Path Gelsinger, the freshly minted CEO in February 2021, is set to receive compensation of .... $179 million.

Some decency please.
And it doesn't matter what that compensation is made up of - fixed salary, bonus, or stock options.

At Intel's general meeting, we voted against this compensation proposal. And 54% of the shareholders followed us. We hope that the check will be well rounded.

Just a thought for Expedia shareholders, who are about to pay their CEO, Pierre Kern, $296 million. That's almost 3,000 times the average salary of the group.

Have a great week,

Pierre

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This presentation is a promotional document. The content of this document is communicated by and is the property of Monocle Asset Management. Monocle Asset Management is a portfolio management company approved by the Autorité des Marchés Financiers under number GP-20000040 and registered with the ORIAS as an insurance broker under number 10058146. No information contained in this document should be construed as having any contractual value. This document is produced for information purposes only. The prospects mentioned are subject to change and do not constitute a commitment or a guarantee. Access to the products and services presented here may be subject to restrictions for certain persons or countries. Tax treatment depends on individual circumstances. The fund mentioned in this document (Monocle Fund SICAV) is authorized for marketing in France and possibly in other countries where the law permits. Before making any investment, it is advisable to check whether the investor is legally entitled to subscribe to the fund. The risks, costs and recommended investment period of the funds presented are described in the KIDD (key investor information documents) and the prospectus, available free of charge from Monocle Asset Management and on the website. The KIDD must be given to the subscribers before the subscription. Past performances are not a reliable indicator of future performances. Monocle Asset Management cannot be held responsible for any decision taken or not taken on the basis of information contained in this document, nor for the use that could be made by a third party. The investor may lose all or part of the amount of capital invested, as the funds are not capital guaranteed.

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