Forbes Releases List of Highest Paid CEOs. The highest-paid CEO on this year's report is CEO of McKesson (MCK), a California-based medical supply company, for 13 years, according to Forbes. The bulk of 2011 pay came from cashed-out stock options with his salary and bonus remaining flat from a year ago. McKesson stock rose 20% in the fiscal year ending March 31, 2011.
5 #1. John Hammergren of McKesson
One-year total compensation: $131.2 million
John H. Hammergren is the Chairman and President of McKesson Corporation, a company engaged in medical and scientific supplies. A native of St. Paul in Minnesota, he is a product of the University of Minnesota where he graduated with a degree in Business Administration in 1981. He then earned his master’s degree from Xavier six years later. He joined McKesson in 1996 and held several management positions before rising to the top in 2001. He has also held a directorship position with the same company since 1999. In addition, Hammergren is also in the Board of Directors of the Hewlett-Packard Company.
4 #2. Ralph Lauren of Ralph Lauren
One-year total compensation: $66.7 million
Ralph Lauren is a noted fashion designer. He is known for the clothing brand that bears his own name and for his astounding automobile collection. Born as Ralph Lifshitz in the Bronx in New York, Lauren got his training from Brooks Brothers where he worked as a salesman after dropping out of Baruch College. In 1967, he received financial support from a Manhattan clothing manufacturer. It enabled him to open a necktie store that he sold using the label “Polo.” By 1971, he had already opened a shop along Rodeo Drive in Beverly Hills. He also has a vast automobile collection that has been featured in the Museum of Fine Arts in Boston and the Musee des Arts Decoratifs in Paris.
3 #3. Michael Fascitelli of Vornado Realty
One-year total compensation: $64.4 million prior-year figure
Michael D. Fascitelli is the President and CEO of Vornado Realty. A product of the University of Rhode Island, he graduated summa cum laude with a degree in Industrial Engineering. He also has an MBA from Harvard where he got the highest distinction and a Doctor of Laws from Rhode Island as well. He got his training working for various companies like Bristol-Myers Company, McKinsey & Company, Inc. and Goldman, Sachs & Co. Fascitelli is also a trustee for Vornado, the Urban Land Institute, Rockefeller University and St. Bernard’s. He is on the board of NYU’s Child Study Center and also serves as Chairman of the Wharton Real Estate Center.
2 #4. Richard Kinder of Kinder Morgan
One-year total compensation: $60.9 million
Richard Kinder is the CEO and Chairman of the Board of the energy and pipeline corporation called Kinder Morgan Energy Partners. He is a native of Missouri and he got his bachelor and law degrees from the University of Missouri in 1968. He started out in real estate but struck out, forcing him to file bankruptcy. He then joined his college buddy Kenneth Lay who had established Enron Corporation. Kinder was COO and President of the company from 1990 to 1996. He then partnered with William Morgan in forming Kinder Morgan. Kinder is on the board of Transocean Ltd., Waste Management Inc., Interstate Natural Gas Association of America, Santa Fe Pacific Pipeline and National Petroleum Council.
1 #5. David Cote of Honeywell
One-year total compensation: $55.8 million
David Cote is the CEO and Chairman of Honeywell. He graduated from the University of New Hampshire with a degree in Business Administration. He used to work for General Electric where he worked for 20 years, becoming the President and CEO of GE Appliances in 1996. Three years later, he transferred to TRW, a Cleveland-based company that provided products and services to the automotive, aerospace and information technology markets. He became CEO of Honeywell in February 2002 and became Chairman of the Board by the latter part of that year. He is a member of the board of JP Morgan Chase and serves as an adviser to Kohlberg Kravis Roberts & Co. Although Cote is a Republican, he has also served in the debt panel of President Barack Obama.
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