Belden's new CEO is getting a raise, but won't see the money until next year.
The company that Roel Vestjens' salary was increased to $750,000 after his promotion to chief executive last week. Vestjens, however, also agreed to a 50% salary reduction for the rest of this year -- which means he could earn less as CEO than his $495,756 salary last year, when he was executive vice president and chief operating officer.
While in his previous position, he had agreed to a 30% salary reduction beginning May 1.
Vestjens also will be eligible for a bonus with a target value of $975,000 and a long-term equity award with a target value of $3 million.
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CEO PAY IN A RECESSION: The average ºüÀêÊÓƵ CEO made roughly $7 million last year. With shareholders and workers suffering through a pandemic-induced recession, David Nicklaus and Jim Gallagher debate how much the big boss's pay should be reduced.
His predecessor as CEO, John Stroup, will get a $500,000 salary as executive chairman but has also agreed to a 50% cut for the rest of this year.
Stroup's salary last year was $920,250 and his total compensation as chief executive was $7.5 million.
Several other ºüÀêÊÓƵ companies, including Aegion, Caleres, Emerson and Huttig Building Products, have asked their CEOs to take temporary pay cuts as the coronavirus pandemic has hurt business.
Here's what ºüÀêÊÓƵ CEOs earned in 2019:
Meet the 26 top-paid CEOs in ºüÀêÊÓƵ
26. Foresight Energy
Foresight Energy filed for Chapter 11 bankruptcy relief in March, joining Murray Energy, its parent coal company, in efforts to restructure amid continued industry turbulence.
25. Allied Healthcare Products
The medical supplies manufacturer is based on Sublette Avenue; the shares nearly tripled in value over two days in spring 2020.
24. Huttig Building Products
23. Enterprise Financial Services
Lally earned 20 times as much as the median Enterprise Financial employee. The bank calculated a median of $67,305 for its workers.
22. Avadel Pharmaceuticals
21. Build-A-Bear
Sharon John received more in 2019 than the previous year, but has taken a salary cut this year.
20. BellRing Brands
BellRing Brands is Post Holding’s active nutrition business. Its initial public offering was in October 2018.
19. Arch Coal
Eaves earned 28 times as much as Arch's median employee, whose pay the company calculates at $106,668. He is retiring effective April 30.
18. Cass Information Systems
17. Commerce Bancshares
Kemper earned 63 times as much as the median Commerce employee. The company calculated median pay of $58,414 for its 4,755 full-time, part-time and seasonal workers.
16. Aegion Corporation
In March 2020, the company announced that its CEO would take a 100% cash wage reduction; his base salary is nearly $707,000
15. Esco Technologies
14. Spire
Sitherwood earned 44 times as much as the median Spire employee. Median pay for the company's 3,536 workers was $103,826.
13. Perficient
Davis earned 61 times as much as the median Perficient employee. Median pay for the company's 3,000 workers was $98,094.
12. Energizer
Hoskins earned 192 times as much as his median employee, whose pay Energizer calculated at $35,464.
Energizer is a Fortune 1000 company.
11. Caleres
The median Caleres employee earned $23,767 last year, so Sullivan made 288 times as much as the typical worker. Caleres noted that a large number of its 11,379 employees are part-time, temporary or seasonal.
Caleres is a Fortune 1000 company.
10. Olin
Olin calculates that Fischer earned 67 times much as its median employee, whom it described as a lab technician earning $107,139.
Olin is a Fortune 500 company.
9. Belden
Stroup earned 177 times as much as Belden's median worker, whose pay was calculated at $42,232.
Belden is a Fortune 1000 company.
8. Peabody Energy
Peabody's median employee earned $113,592, so Kellow's pay was 67 times as high as that of a typical worker.
Peabody was a Fortune 500 company, but recently fell to a Fortune 1000 company.
7. Reinsurance Group
Manning earned 72 times as much as the median Reinsurance Group employee. The company calculated median pay of $113,479 for its 3,426 employees.
Reinsurance Group is a Fortune 500 company.
6. Stifel
Kruszewski earned 84 times as much as the median Stifel employee. The company calculated median pay of $97,326 for 9,960 employees.
Stifel Financial is on the Fortune 1000 list.
5. Ameren
Baxter earned 66 times as much as the median Ameren employee, whose pay the company calculated at $147,127.
Ameren is a Fortune 500 company.
4. Post Holdings
Vitale earned 169 times as much as a typical Post worker. The Brentwood-based food company calculated that its median employee earned $67,082.
Post Holdings is a Fortune 500 company.
3. Bunge
* The CEO was named as acting CEO on January 2019, so his previous salary wasn't used for the increase.
Bunge moved headquarters from New York to Chesterfield in the summer of 2019.
Bunge is a Fortune 500 company.
2. Emerson
An activist hedge fund urged Emerson to split the company, sparking a review of its operations and structure. The company will remain whole, but is implementing cost-saving measures.
Emerson is a Fortune 500 company.
1. Centene
The company calculates that Neidorff earned 383 times as much as its median employee, who earned $68,897.
Centene is a Fortune 500 company.
