Rising tide

Snavely, Brent
May 2005
Crain's Detroit Business;5/23/2005, Vol. 21 Issue 21, p10
The article reports that a majority of the top-paid chief executive officers (CEOs) in Southeast Michigan received pay increases last year, often coinciding with an increase in profits. In fact, 22 of the area's top CEOs who reappeared on Crain's list of top 50 CEOs got a raise in 2004, nine saw their compensation decrease and one was paid the same. Tim Ranzetta, president and COO of San Mateo, California-based Equilar Inc. said companies have been trying to tie executive compensation with financial performance more directly than in the past. In 2004, Southeast Michigan's top-paid executive was Richard Manoogian, chairman and CEO of Taylor-based Masco Corp.


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