December 02, 2015
Total director compensation, 2008–2014: $6,143,144
Average annual director compensation: $877,592
Average compensation per full year of service as director: $323,323
Lois D. Juliber is the retired Vice Chairman and former COO of Colgate-Palmolive, a consumer products company that makes a variety of household and personal products. Her success at Colgate-Palmolive earned her several appearances on Fortune’s list of 50 Most Powerful Women. Ms. Juliber received a B.A. from Wellesley College, where she is currently a member of the board of trustees. At the beginning of 2015, Ms. Juliber completed her third and final term as Director of the MasterCard Foundation (the world’s fifth largest private charitable foundation), an organization she helped create. In addition to her B.A., she also received an M.B.A. from Harvard University.
Ms. Juliber has served as a director at three companies, Mondelez International, DuPont, and Goldman Sachs. Ms. Juliber joined Mondelez International in 2007, back when it was Kraft Foods Inc, and she joined DuPont in 1995. She is currently still a Director for both of these companies, and chairs the Compensation Committees for both. Ms. Juliber joined the board for Goldman Sachs in 2004, but left the company in 2012. During her time at Goldman Sachs, Ms. Juliber served on all of the company’s standing committees. Between 2008 and 2014, Ms. Juliber made a total of $6,143,144 in director compensation, averaging $877,592 each year. On average each directorship, Ms. Juliber served a full year at paid $323,323 in annual compensation.
As chair of the compensation committees for Mondelez International and DuPont, and a member of the same for Goldman Sachs, Ms. Juliber has played a role in setting compensation for the CEO’s of all three companies. Between 2008 and 2014 the average annual CEO compensation was $21.5 million for Mondelez International and $13.3 million for DuPont. During this same period CEO compensation increased by $2.3 million at Mondelez International and by $5.9 million at DuPont.
Between 2008 and 2012, the CEO of Goldman Sachs averaged $17.1 million in annual compensation. However, this number requires more explanation. In 2008, Goldman’s CEO compensation totaled $40.9 million. The next year it totaled just $1 million. This abrupt change was caused by the fact that in 2009 Goldman Sachs awarded no stock or other options to its executives, which was a condition of getting TARP bailout funds. So the pay for the year represents just the base CEO salary of $600,000 plus some other compensation. To examine the change in CEO compensation during these years a more stable number to look at would be this base salary, which went from $600,000 in 2008 to $2 million in 2012.
Between 2008 and 2014, Mondelez International’s stock prices grew by just 13.35 percent. DuPont’s prices grew by 69.04 percent, which outpaced the S&P 500’s growth of 42.27 percent. Between 2008 and 2012, while still recovering from the financial crisis, Goldman Sach’s stock prices fell by 38.55 percent. This is well below the performance of the S&P 500, which decreased over this period by just 1.45 percent.