25. Kathy J. Warden
> Company: Northrop Grumman
> Annual compensation: $19,620,379
> Company revenue: $33.8 billion
> CEO pay ratio: 177 times more than the typical employee
Kathy Warden is one of two female executives to rank on this list. Warden has been the CEO of defense contractor Northrop Grumman since Jan. 1, 2019, and was paid nearly $20 million in her first year in the role — 177 times more than the typical employee. Warden has been with the company since 2008 and held a variety of executive level positions. Before joining Northrop Grumman, Warden worked at defense contractor General Dynamics and manufacturing conglomerate General Electric.
24. Michael Wirth
> Company: Chevron
> Annual compensation: $19,687,284
> Company revenue: $146.5 billion
> CEO pay ratio: 236 times more than the typical employee
With annual revenue of nearly $147 billion, Chevron is the second largest oil and gas company in the United States, trailing only Exxon Mobil. Michael Wirth, who has been with the company for decades, assumed the CEO role in 2018. His reported compensation was nearly $20 million in fiscal 2019.
Oil and gas companies have been hit hard during the COVID-19 pandemic. In that context, Chevron, under Wirth’s leadership, purchased struggling competitor Noble Energy for $13 billion. Chevron will take over Noble’s substantial natural gas fields in the Eastern Mediterranean, as well as its $8 billion debt load.
23. Darius E. Adamczyk
> Company: Honeywell International
> Annual compensation: $19,776,997
> Company revenue: $36.7 billion
> CEO pay ratio: 295 times more than the typical employee
Darius Adamczyk has been the CEO of industrial machinery manufacturer Honeywell International since 2017. Adamczyck, a Polish immigrant, was educated at Harvard, Michigan State, and Syracuse University and worked as an electrical engineer at GE. Before taking the top job at Honeywell, he was CEO of Metrologic, a company acquired by Honeywell in 2008.
Adamczyk’s total compensation in fiscal 2019 was $19.8 million — nearly 300 times higher than what the typical Honeywell employee earns. Though the company reported a slight dip in revenue in 2019 for the first time in at least four years, it also beat earnings estimates in each of the first three quarters of 2020.
22. David S. Taylor
> Company: Procter & Gamble
> Annual compensation: $20,498,812
> Company revenue: $71.0 billion
> CEO pay ratio: 309 times more than the typical employee
David Taylor joined Procter & Gamble in 1980 and was named CEO in 2015. The company is behind many common personal care and household product brands, including Bounty, Crest, Febreze, Gillette, Old Spice, Pampers, Puffs, and Tide. In fiscal 2019, Taylor made a reported $20.5 million.
During the COVID-19 pandemic, Taylor outlined the company’s priorities, which included ensuring the health and safety of its employees, maximizing the availability of cleaning products, and helping society at large overcome the challenges presented by the virus. P&G donated tens of millions of dollars in both products and cash to help those in need. The company has also reported a surge in sales, beating earning estimates in each quarter so far this year.
21. Joseph W. Gorder
> Company: Valero Energy
> Annual compensation: $20,691,139
> Company revenue: $102.7 billion
> CEO pay ratio: 103 times more than the typical employee
Joseph Gorder made nearly $20.7 million as CEO of Texas-based oil and gas company, Valero in 2019. He was appointed CEO in 2014.
Under Gorder, Valero reported a drop in revenue in 2019 for the first time in four years. The company, however, has managed to beat earnings estimates in each of the first three quarters of 2020 — a year that has hit the oil and gas industry especially hard.