ICANN Names New CEO, Will Pay Him $800,000 To Run the Internet 141
darthcamaro writes "ICANN has officially hired a new CEO to replace the Rob Beckstom. ICANN industry unknown Fadi Chehade is taking the top job — but there is a catch. He can't start for another 90 days, even though ICANN has been looking for a new CEO for months. Even better is Chehade's salary. ICANN will pay him $800,000 a year. Is the CEO of ICANN one of the highest paying jobs in the Internet governance landscape?"
Re:CEO Pay (Score:5, Informative)
Yeah, I mean, he has to run the business unit, ensure that sales and marketing are doing their jobs and that products are delivered to stores. Oh wait, HE AIN'T running a business at ALL!
People keep trying to rationalize these salaries as if there is some CEO shortage. Really it all about the good ole boy network and I will pad your salary and you pad mine. I remember after the banking crash in 2008 and they had someone reviewing salaries at banks. Every banking officer claimed that they were above average and deserved a raise!
I tell you what, lets set some goals for this guy as a CEO and if it meets them then he can have his huge salary. Otherwise this is just a welfare check to the overpaid.
Re:CEO Pay (Score:5, Informative)
the average CEO made 380 times what the average worker made in 2011.
No. The average CEO made far, far less than that. The figure you quote is only for CEOs of 300 of the largest public corporations. It doesn't include the millions of smaller corporations.
Re:CEO Pay (Score:4, Informative)
Apparently, you're right if you count only the salary, in which case a CEO makes roughly 90 times the worker salary. If you include all income, it is close to 500 times the worker salary. Sorry, but I don't see how this can be justified in terms of productivity or management skills or whatever.
In 1970, CEO salary and bonus packages were typically about $700,000 - 25 times the average production worker salary; by 2000, CEO salaries had jumped to almost $2.2 million on average, 90 times the average salary of a worker, according to a 2004 study on CEO pay by Kevin J. Murphy and Jan Zabojnik. Toss in stock options and other benefits, and the salary of a CEO is nearly 500 times the average worker salary, the study says.
From here [payscale.com]
Re:CEO Pay (Score:4, Informative)
"A CEO just needs to be a competent manager, and there are plenty of them around."
Funniest thing ever said on slashdot!!
Re:Hey, I'll do it for half that. (Score:5, Informative)
Pay for performance is a world-wide metric.
Please stop perpetuating lies. It's an old wives tale that has absolutely no scientific backing. Evidence shows the opposite: high compensation has a detrimental effect on productivity of creative white collar employees. (This does not apply to manual labor workers)
http://blog.ted.com/2010/05/31/dan_ariely_asks/ [ted.com]
So yeah, I would like the guy getting paid $100k instead, and use the remaining $700k to add new fiber infrastructure.