NEW YORK—An energy company CEO leads the list of the most highly paid chief executives in the Midwest. Bob Simpson of XTO Energy was No. 1 in the region that includes Texas, home to many oil and gas giants.
AP examined 2007 CEO pay data from the 410 companies in the S&P 500 that filed compensation disclosures with federal regulators in the first six months of this year. The following are the top earners in the Midwest.
1. Bob Simpson of XTO Energy: $56.6 million
2. Miles White of Abbott Laboratories: $29.4 million
3. James Hackett of Anadarko Petroleum Corp.: $26.7 million
4. Aubrey K. McClendon of Chesapeake Energy Corp.: $25.5 million
5. James Cracchiolo of Ameriprise Financial Inc.: $23.2 million
The AP's formula includes salary, perks, bonuses, above-market interest on pay set aside for later, and company estimates for the value of stock options and stock awards on the day they were granted.
