Highest paid public company CEOs: ranked by aggregate take-home compensation in 2005

San Fernando Valley Business Journal, Nov 20, 2006 by Barbara Sheppard

EXECUTIVE SUMMARY

The top five highest paid executives on the Business Journal's list all earned over $11 million in aggregate take-home compensation in 2005, with a vast difference of $130 million separating No. 1 and No. 5.

A notable change was Jay Gellert of Health Net Inc. who did not place in the top 25 last year but ranked No. 5 on this year's list. Eight other company leaders who were not among the top 25 in 2005 also landed on the 2006 list.

While two companies, Power-One Inc. and On Assignment Inc., reported net income losses in 2005, that performance did not preclude their leaders, Steven Goldman and Peter T. Dameris, respectively, from making the list of highest paid CEOs. Indeed, company performance does not always directly correlate to the income of the chief executive. Consider that Kevin W. Sharer ranked No. 3 in highest aggregate take-home earnings although the company he runs, Amgen, reported the highest net income of all the companies on the list.

THE PACESETTER

ANGELO R. MOZILO

WHEN Angelo R. Mozilo co-founded Calabasas-based Countrywide Financial Corp. more than 37 years ago, his hope was to make it the first nationwide mortgage banking company. Under his leadership, it has grown to be a global leader in diversified financial services with over 55,000 employees and a market capitalization of more than $20 billion.

Beginning his working life at age 12 in his father's Bronx, N.Y. butcher shop, Mozilo's big opportunity came in the 1960s, when he financed the housing boom near Cape Canaveral following the moon mission. After that success, he eventually came to the San Fernando Valley and Mozilo, now chairman and CEO, has been the driving force behind Countrywide's growth and profitability.

As the highest paid executive on the Business Journal's list, Mozilo's aggregate take-home in 2005 was almost $142 million. Countrywide's net income for 2005 was over $2.5 billion. The company recently announced that Mozilo will continue his role with Countrywide through December 31, 2009.