You have reached your limit of free articles this month.

Enjoy unlimited access to myAJC.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and bonus content- exclusively for subscribers. Starting at just 99¢ for 8 weeks

X

Welcome to myAJC.com

This subscriber-only site gives you exclusive access to breaking news, in-depth coverage, exclusive interactives and bonus content.

You can read free articles of your choice a month that are only available on myAJC.com.

Without big pay perks, First Data CEO no longer Georgia’s highest paid


Georgia’s highest-paid company executive in 2015 no longer holds that distinction, thanks to a big pay cut last year — but he still got more than $13.8 million.

In 2015, CEO Frank Bisignano took home almost $51.6 million in total compensation, making him the highest-paid CEO that year at a Georgia public company.

His 2015 pay included more than $44.7 million worth of stock-based awards and a $5 million bonus that were tied to his help with taking the metro Atlanta payments processor public that year.

But according to First Data’s proxy statement filed last week, Bisignano’s pay dropped last year to a level more typical of those at other big public companies in Georgia.

His $13.8 million total in 2016 included $10.6 million in stock-based pay, a $1.3 million salary, $1.3 million bonus, and $580,551 in other compensation — mostly for use of company aircraft, and tax “gross-up” payments to cover the income taxes on such perks.

Many Georgia companies haven’t yet filed proxy statements disclosing their executives’ 2016 pay, so it’s unclear who was highest paid. But at least one CEO, Coca-Cola’s Muhtar Kent, took home more pay than First Data’s chief, with total compensation of $17.6 million.

First Data had a string of heavy losses for several years after private equity firm Kohlberg Kravis Roberts bought the company in 2007 in a debt-loaded buyout.

One of the biggest annual losses — nearly $1.5 billion — was in 2015, two years after Bisignano took over as CEO and began working to get the company ready to go public again.

Last year, First Data reported a $420 million annual profit, its first since 2006.



Reader Comments ...


Next Up in Business

SNEAK PEEK: Target to redesign stores in major ways
SNEAK PEEK: Target to redesign stores in major ways

Target Corp. has released the company’s “most ambitious” store redesign, with plans to invest billions of dollars in the next three years at existing stores. The retailer said it would open its first “reimagined” store in the Houston, Tex. suburb of Richmond. The redesign could hit 600 stores by 2019, according to Brian...
Kempner: Time for a nuclear apology from your power company
Kempner: Time for a nuclear apology from your power company

Sometimes, even rah-rah cheerleading isn’t enough to make a bad situation look good. That’s a shame for Georgia Power, because the CEO of its parent has tried to make the company’s nuclear misadventure look like a puffy cloud on a pretty spring day. Four years ago, when the project to expand nuclear power at Plant Vogtle was already...
Elon Musk launches effort to interface human brain and computers
Elon Musk launches effort to interface human brain and computers

  Entrepreneur Elon Musk is the man behind the car company Tesla, the inventor of PayPal and the genius behind Space X, Hyperloop and even more. Now the billionaire inventor has launched a company called Neuralink to figure out how to connect the brain and computers, the Wall Street Journal reported. The idea is to create tiny devices, like...
Plant Vogtle contractor seeks bankruptcy protection
Plant Vogtle contractor seeks bankruptcy protection

A bankruptcy filing by the Plant Vogtle nuclear expansion’s key contractor will likely mean more delays and higher costs for a project already billions over budget and years behind schedule, a state regulator said. Westinghouse Electric Corp., a unit of Japanese conglomerate Toshiba, on Wednesday filed for Chaper 11 protection after years of...
McDonough hotel is going for high-tech simplicity
McDonough hotel is going for high-tech simplicity

Tru by Hilton is going for high-tech simplicity as it forges into the mid-priced hotel market. Officials for Hilton gave a sneak peek Thursday of what hotel guests can expect when the four-story, 98-room Tru by Hilton opens in McDonough in early summer. The hotel will be the first of its kind in Georgia, and Hilton’s second Tru hotel to open...
More Stories