Top Enterprises Spend More on CEO Protection; USA Today Reports 123% Growth in 2008 over 2007
Based on data from some publicly traded firms, a conclusion is that corporations are spending significantly more on personal and residential security for their CEOs. There are numerous reasons including the fallout from the economy in which there are more laid-off workers and the unpopularity of corporate heads in the wake of numerous business, financial and social upheavals.
Increases in CEO protection spending comes at the same time that CEO compensation overall has taken a hit.
According to another study by Equilar, a leading information services firm which tracks executive compensation, median CEO pay fell by 6.8% from 2007 to 2008. Declines in overall compensation levels were principally driven by a steep drop in median cash bonus payouts, which fell by 20.6% over the same period.
Equilar's study, one of the most comprehensive to date on 2008 pay trends, includes data for 208 S&P 500 CEOs at companies with fiscal years ending between June 2008 and January 2009. To be included in the study, a CEO must have been in place for at least two full fiscal years.
Security Magazine extensively covered executive protection in the June 2009 issue. Content covered personal protection as well as special technology and services for luxury homes.
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