Fifth Third Bancorp CEO Greg Carmichael's 2018 pay jumps 29% to $11.2M

Fifth Third Bancorp reports 2018 executive compensation

Published: March 6, 2019

Fifth Third Bancorp reported fiscal year 2018 executive compensation information on March 6, 2019.

In 2018, six executives at Fifth Third Bancorp received on average a compensation package of $4.6M, a 13% increase compared to previous year.

Average pay of disclosed executives at Fifth Third Bancorp

Greg D. Carmichael, Chief Executive Officer, received $11.2M in total, which increased by 29% compared to 2017. 43.74% of Carmichael's compensation, or $4.9M, was in stock awards. Carmichael also received $4.1M in non-equity incentive plan, $862.5K in option awards, $1.1M in salary, as well as $235.1K in other compensation.

For fiscal year 2018, the median employee pay was $64,186 at Fifth Third Bancorp. Therefore, the ratio of Greg D. Carmichael's pay to the median employee pay was 174 to one.

Lars C. Anderson, Chief Operating Officer, received a compensation package of $3.9M, which increased by 19% compared to previous year. 37.07% of the compensation package, or $1.4M, was in stock awards.

Teresa J. Tanner, Chief Administrative Officer, earned $3.6M in 2018.

Timothy N. Spence, Executive Vice President and Head of Consumer Bank, Payments, and Strategy, received $3M in 2018, which decreases by 2% compared to 2017.

Tayfun Tuzun, Chief Financial Officer, earned $3M in 2018, a 11% increase compared to previous year.

Frank R. Forrest, Executive Vice President and Chief Risk Officer, received $2.9M in 2018, which increases by 8% compared to 2017.