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Mon, 10 Dec 2012 15:45:00 GMT | By Michael Brush, MSN Money
10 outrageously lavish CEO perks

Boeing's James McNerney



CEO of Boeing James McNerney at the APEC CEO Summit in Honolulu, Hawaii, Nov. 12, 2011. (© Larry Downing/Reuters)
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  • luxury travel (© Getty Images)
  • Amazon CEO Jeff Bezos holds up the new Kindle Fire HD 7 and Kindle Fire HD 8.9" (L) during Amazon's Kindle Fire event. (© Gus Ruelas/Files/Reuters)
  • CEO of Boeing James McNerney at the APEC CEO Summit in Honolulu, Hawaii, Nov. 12, 2011. (© Larry Downing/Reuters)
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Boeing's James McNerney

Total perks: $928,679

Boeing (BA) CEO James McNerney got $47,000 for the personal use of a company car in 2011. McNerney also received $450,000 for personal use of the corporate jet and $42,000 for tax-preparation help.

Boeing says McNerney's annual pay for each of the past three years was $19.4 million to $22.9 million, or well more than twice the $9.6 million median at S&P 500 companies, so you'd think he'd be able to pay for his own car and airfare. But rich perks are a pattern here. He got $798,400 worth last year, and $1 million worth the year before.

Behind the scenes, he also gets an "extraordinarily generous pension," says Vineeta Anand, chief research analyst at the AFL-CIO Office of Investment. His supplemental pension plan was valued by the company at $29 million last year. "We've had concerns about their compensation practices for some time," says Anand. 

In filings, the company responds that such pay and pension plans are needed to attract and keep "world-class executive talent." And last year, 93 per cent of shareholders approved McNerney's pay. Boeing stock has advanced 32.5 per cent since July 2005 when McNerney became CEO, compared with a 14 per cent gain for the S&P.

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