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  • Wal-Mart's Marc Lore Blows Top Off Exec Compensation List

Arkansas Business

Wal-Mart's Marc Lore Blows Top Off Exec Compensation List

Oct 30, 2017

Marc Lore was awarded more than $242 million worth of stock when the online retailer he helped found, Jet.com of Hoboken, New Jersey, was sold to Wal-Mart Stores Inc. in August 2016 for $3.3 billion. Lore then joined Wal-Mart as an executive vice president to run the Bentonville discount chain’s most ambitious assault on the competitive threat that is Amazon, adding another million or so to his total compensation.

Lore’s total compensation of $243.9 million, in fact, was a mere $4.2 million more than the total of the 101 other named executive officers reported by 20 public companies in the state of Arkansas.

Earlier this month, the executive pay consultants at Pearl Meyer of New York released results from 276 companies projecting salary increases of about three percent for CEOs and their direct reports in 2018.

That survey also found that companies are not ready for a major new disclosure requirement that will take effect with their 2018 proxy statements: the disclosure of the CEO’s compensation compared with the median of all other employees.

This pay ratio disclosure requirement is part of the Dodd-Frank Wall Street Reform & Consumer Protection Act of 2010. Pearl Meyer found that 44 percent expect the CEO’s salary to be 100 times the median or less, while 56 percent expect the ratio to be higher. In four percent of the responses, the companies expect the CEO’s salary to be 400 times the median or more.

Three quarters of the executives that responded to Pearl Meyer’s survey said there had been no internal discussions of how to communicate the ratio internally and externally.

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