Average compensation for CEOs of the major public coal companies was $4.3 million in 2011, according to an SNL Energy analysis of proxy data filed by 12 coal producers and coal-landowning companies, write Dan Lowrey and Jesse Gilbert.
That represents a 1.7 percent decline from 2010 for the same group of companies. Median pay, however, soared almost 43 percent to $2.8 million from about $2 million in 2010.
Share price values for the 12 analyzed companies plummeted an average of nearly 33 percent during 2011 as global coal markets weakened, new environmental regulations were written affecting coal-burning power plants and the price of substitute fuel natural gas nosedived.
Corporate profitability and stock price appreciation are two factors companies typically link to executive compensation.
Among the 12 companies studied, seven compensated their CEOs more in 2011 than in 2010.