FirstEnergy CEO among Northeast Ohio's highest-paid executives
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Northeast Ohio's highest-compensated executive in 2023 was Brian Tierney, the president and CEO of Akron's FirstEnergy Corp., according to a Crain's Cleveland Business annual list.
State of play: Tierney took home more than $26 million in total compensation, the vast majority of which (more than $22 million) came in the form of stock awards.
By the numbers: Thirteen executives earned more than $10 million, though no base salary was higher than Lourenco Goncalves of Cleveland-Cliffs, at $2.1 million.
- Three CEOs among the top 25 — Kevin Stein of TransDigm, Craig Arnold of Eaton, and Richard Zimmerman of Cedar Fair — earned more than 400 times their companies' median employee.
In a stunning stat, there are as many Richards among the Top 25 as there are women — three.
Yes, but: John Morikis of Sherwin-Williams resigned as the company's top executive in December, and his replacement was a woman: Heidi Petz.
Zoom out: Progressive Insurance is the largest Northeast Ohio company in terms of revenue, ranking 62nd on the 2024 Fortune 500.
- Its president and CEO, Tricia Griffith, earned $15.6 million last year, including $10 million in stock awards.
- Her 22.7% year-over-year increase in compensation was the lowest increase among the top 10.