Dominion Resources’ Tom Farrell jumped back to the top of the pack last year as the highest-paid CEO among Richmond’s publicly traded companies.
Farrell, who has been at the helm of Dominion since 2007, received a total compensation package of $20.61 million in 2014, according to recent SEC filings. That’s up 88.91 percent from 2013. He previously topped the list as recently as 2012.
Farrell’s rise was fueled in large part by a $10 million long-term incentive plan payout that was nearly double what he received the previous year. His base salary for 2014 was $1.41 million, up from $1.34 million.
Farrell beat out Altria CEO Martin Barrington, who was on the top of the list in 2013. Barrington received a total 2014 pay package valued at $12.3 million, a decline of 38.8 percent from 2013.
Barrington’s decrease was due to a gap in long-term incentive payouts. He received $8 million in such payouts in 2013 but none in 2014.
For this list, Richmond BizSense examined pay packages given to CEOs of 13 locally based publicly traded companies, not including publicly traded banks in the area. Continue reading this article about the top 13 CEO’s in the Richmond-metro, on RichmondBizSense.com.
