Richard Kramer, president, chairman and CEO of Goodyear Tire and Rubber Co., was paid the equivalent of $10.32 million in 2022, according to the company's latest proxy filing.
Kramer's pay package last year includes a base salary of approximately $1.37 million — or 5% more than his 2021 salary of $1.3 million — as well as a mix of stock awards, incentives and other financial compensation.
That other compensation includes personal use of company aircraft worth $93,855, savings plan contributions totaling $33,500, and $34,346 for installation and monitoring of a home security system.
About 55% of Kramer's pay was in the form of stock.
At $10.32 million, Kramer's total compensation last year was about 52% less than his 2021 compensation of $21.42 million. That year, Kramer was paid $10.69 million in stock plus $9.07 million in incentives.
Kramer's 2020 compensation was $16 million, with a base salary of $1.22 million.
The median annual total compensation among all Goodyear employees was $42,773. That amount is about 2.2% less than the reported median employee pay of $43,746 in 2021. Those figures mean Goodyear posted a CEO-to-employee pay ratio of 241:1 in 2022 versus a ratio of 490:1 in 2021.
The Akron-based tire manufacturer reported total revenues of $20.8 billion in 2022, or about 19% more than 2021 revenues of $17.48 billion. The company attributes those gains to "strong revenue-per-tire growth from actions taken to combat inflation," according to its annual report.
Here's a look at total compensation some other Goodyear executives received in 2022:
• Darren Wells, chief financial officer: $3.75 million ($7.6 million million in 2021)
• Stephen McClellan, president, Americas: $3.36 million ($6.93 million in 2021)
• Christopher Delaney, president, Europe, Middle East and Africa: $3.38 million ($7 million in 2021)
• David Phillips, general counsel: $1.96 million (Phillips was not a named officer in 2021)
• Ryan Patterson, former chief operating officer and integration officer, Americas: $3.87 million ($5.44 million in 2021)