CEO Pay
March 18th, 2009 by RickIt's proxy season so executive pay figures for 2008 are beginning to trickle out.
At the top of the list, Allen Doane earned nearly $5 million last year as CEO and chairman of Alexander & Baldwin Inc. But Doane's 2008 compensation was down sharply from his 2007 pay of $8.6 billion.
Hawaiian Electric Industries Inc. CEO Constance Lau received a $2 million pay increase, upping her 2008 pay package to nearly $3.9 million.
Lau's increase came in a year the company experience significant challenges, including lower earnings at its American Savings Bank unit and a Dec. 26 islandwide outage that cut off power to Hawaiian Electric Co.'s 294,000 customers on Oahu.
Rounding out the list, Bank of Hawaii CEO Allan Landon earned about $2.5 million last year, which was down about $100,000 from his 2007 pay.
Look for updates to this list as more local companies file their proxies with the Securities and Exchange Commission. In the future, I'll publish a more listing in the Honolulu Advertiser newspaper once all of the proxies are filed.
Tags: Alexander & Baldwin Inc., Bank of Hawaii Corp., CEO pay, Hawaiian Electric Industries Inc.
March 18th, 2009 at 5:04 pm
Interesing on the publishing of these executive's annual pay. Amounts have always fluxuated due to how your company preformed the past year. I have always liked the story I read years ago about the Costco CEO whose salary remained the same and actually was in 6 figures. I wonder if has changed.
April 6th, 2009 at 10:55 am
It is good to see that opportunity still exists in Hawaii and America. IF our new prez has anything to do with it, it maybe snuffed out.
Aloha,
Keahi