Comerica reports 2018 executive compensation
CEO Ralph W. Babb, Jr receives $10M
Comerica reported fiscal year 2018 executive compensation information on March 12, 2019.
In 2018, six Comerica executives received on average a compensation package of $3,663,485, a 20% decrease compared to previous year.Average pay of disclosed executives at Comerica
Ralph W. Babb, Jr, Chief Executive Officer, received $10,039,842 in total, which decreased by 17% compared to 2017. 37.96% of Babb's compensation, or $3,811,611, was in stock awards. Babb also received $1,512,077 of change in pension value and nonqualified deferred compensation earnings, $2,964,010 in non-equity incentive plan, $429,028 in option awards, $1,312,116 in salary, as well as $11,000 in other compensation.
Curtis C. Farmer, President, Comerica Incorporated and Comerica Bank, received a compensation package of $3,987,706, which increased by 11% compared to previous year. 39.79% of the compensation package, or $1,586,718, was in non-equity incentive plan.
John D. Buchanan, Chief Legal Officer, earned $2,340,253 in 2018, a 12% increase compared to previous year.
Muneera S. Carr, Chief Financial Officer, received $2,186,582 in 2018.
Michael H. Michalak, Former Executive Vice President and Chief Risk Officer, Comerica Incorporated and Comerica Bank, earned $2,180,542 in 2018, a 4% decrease compared to previous year.
David E. Duprey, Chief Financial Officer, received $1,245,986 in 2018, which decreases by 55% compared to 2017.