More churn and less pay for CEOs

Due to a decrease in bonuses and incentive plans, average mining CEO compensation fell 16% according to a study by Bedford Resources.

“Sixty-three percent of CEO’s received an annual bonus in 2013 compared to 88% in the previous yeart,” said Bedford in its fifth annual report on¬†Board and Executive Compensation for the Mining Industry¬†for 2014.

“Incumbents working at companies under $1 billion in assets experienced greater likelihood of receiving no bonus payment.”

While total compensation was down, median CEO salaries were up 5% compared to last year.

The study also found that many of the survey respondents “experienced significant transition.” Approximately 17% of CEOs left their positions in 2013.

Bedford Resources is an international recruiting firm focused on mining and oil and gas sectors.

Read the full study.

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Creative Commons image from Flickr

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