Fifth Third Bancorp CEO Greg Carmichael's 2019 pay slips 19% to $9M
Fifth Third Bancorp reports 2019 executive compensation
By ExecPay News
Published: March 4, 2020
Fifth Third Bancorp reported fiscal year 2019 executive compensation information on March 4, 2020.
In 2019, five executives at Fifth Third Bancorp received on average a compensation package of $4M, a 12% decrease compared to previous year.
Average pay of disclosed executives at Fifth Third Bancorp
Greg D. Carmichael, Chief Executive Officer, received $9M in total, which decreased by 19% compared to 2018. 50% of Carmichael's compensation, or $4.5M, was in stock awards. Carmichael also received $2.2M in non-equity incentive plan, $787K in option awards, $1.1M in salary, as well as $449K in other compensation.
For fiscal year 2019, the median employee pay was $68,103 at Fifth Third Bancorp. Therefore, the ratio of Greg D. Carmichael's pay to the median employee pay was 132 to one.
Lars C. Anderson, Chief Operating Officer, received a compensation package of $3.3M, which decreased by 15% compared to previous year. 44% of the compensation package, or $1.4M, was in stock awards.
Tayfun Tuzun, Chief Financial Officer, earned $2.8M in 2019, a 7% decrease compared to previous year.
Timothy N. Spence, Executive Vice President and Head of Consumer Bank, Payments, and Strategy, received $2.6M in 2019, which decreases by 14% compared to 2018.
Frank R. Forrest, Executive Vice President and Chief Risk Officer, earned $2.5M in 2019, a 14% decrease compared to previous year.
Related executives
Greg Carmichael
Fifth Third Bancorp
Chief Executive Officer
Tayfun Tuzun
Fifth Third Bancorp
Chief Financial Officer
Lars Anderson
Fifth Third Bancorp
Chairman
Timothy Spence
Fifth Third Bancorp
President, Fifth Third Bancorp
Frank Forrest
Fifth Third Bancorp
Former Executive Vice President and Chief Risk Officer
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Source: SEC filing on March 4, 2020.