Fifth Third Bancorp reports 2018 executive compensation

CEO Greg D. Carmichael receives $11.2M

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 $4,603,646, a 13% increase compared to previous year.

Average pay of disclosed executives at Fifth Third Bancorp

Greg D. Carmichael, Chief Executive Officer, received $11,173,652 in total, which increased by 29% compared to 2017. 43.74% of Carmichael's compensation, or $4,887,480, was in stock awards. Carmichael also received $4,100,000 in non-equity incentive plan, $862,496 in option awards, $1,088,531 in salary, as well as $235,145 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 $3,897,661, which increased by 19% compared to previous year. 37.07% of the compensation package, or $1,444,985, was in stock awards.

Teresa J. Tanner, Chief Administrative Officer, earned $3,595,164 in 2018.

Timothy N. Spence, Executive Vice President and Head of Consumer Bank, Payments, and Strategy, received $3,038,535 in 2018, which decreases by 2% compared to 2017.

Tayfun Tuzun, Chief Financial Officer, earned $3,022,286 in 2018, a 11% increase compared to previous year.

Frank R. Forrest, Executive Vice President and Chief Risk Officer, received $2,894,579 in 2018, which increases by 8% compared to 2017.