I am all about any person being compensated as much as a market is willing to pay. It is about time that CIO’s are getting into the boardroom and involved in critical operations decisions. I am all for that. But talk about bad timing with public relations…
Baseline has come out with their 2005 CIO Compensation Survey. Worth noting that Northwest Airlines CIO, Philip Hahn, ranks 6th in compensation. He made a pinch over 3 million dollars in 2004. Not bad for a guy whose company is saying they need concessions from the labor unions to survive.
And then we have this story from Forbes on Randy Mott the new CIO of Hewlett-Packard who was lured away from Dell. $15.3 million, not bad for a guy who took a job and then in a matter of weeks his company announced the layoff of 15,000 employees, or 10% of the then workforce.
Maybe I am still jaded by the comments of Latrell Spreewell of the Minnesota Timberwolves last winter. He felt his contract with the Wolves should be redone. He said he needed to feed his family.
Huh, $10 million just did not seem to cut it.
I need to give the CIO’s a break. At least they are assisting in creating shareholder value.