BY THE NUMBERS• $9 million: size of typical pay package for head of S&P 500 company CEO in 2010• 11 percent: average gain in CEO pay in 2010 over 2009• 39 percent: average increase in cash bonuses to CEOsSource: AP, Wall Street Journal
Top executives for most Chattanooga area companies saw their pay rebound last year as profits swelled and stock prices climbed.
CEO pay grew on average by about 15 percent among local companies that are publicly traded or publicly report compensation, proxy statements show.
That’s a little higher than an 11 percent gain recorded nationally in a study by Hay Group for The Wall Street Journal.
Thomas R. Watjen, Unum Group’s CEO, drew $11.48 million in total compensation last year, company figures show. That’s up 22.4 percent from a year ago, but less than the $12.26 million he earned in 2008.