Progressive CEO Susan Griffith's 2018 pay jumps 53% to $14M
Progressive reports 2018 executive compensation
By ExecPay News
Published: March 29, 2019
Progressive reported fiscal year 2018 executive compensation information on March 29, 2019.
In 2018, seven executives at Progressive received on average a compensation package of $4.8M, a 35% increase compared to previous year.
Average pay of disclosed executives at Progressive
Susan Patricia Griffith, Chief Executive Officer, received $14M in total, which increased by 53% compared to 2017. 78% of Griffith's compensation, or $11M, was in stock awards. Griffith also received $2.3M in non-equity incentive plan, $791K in salary, as well as $114K in other compensation.
For fiscal year 2018, the median employee pay was $62,925 at Progressive. Therefore, the ratio of Susan Patricia Griffith's pay to the median employee pay was 225 to one.
John P. Sauerland, Chief Financial Officer, received a compensation package of $7.1M, which increased by 93% compared to previous year. 71% of the compensation package, or $5.1M, was in stock awards.
William M. Cody, Chief Investment Officer, earned $2.8M in 2018, a 3% increase compared to previous year.
John A. Barbagallo, Commercial Lines President, received $2.5M in 2018, which increases by 6% compared to 2017.
M. Jeffrey Charney, Chief Marketing Officer, earned $2.4M in 2018, a 3% increase compared to previous year.
Patrick K. Callahan, Personal Lines President, received $2.2M in 2018, which increases by 20% compared to 2017.
Michael D. Sieger, Claims President, earned $2.2M in 2018.
Related executives
Susan Griffith
Progressive
Chief Executive Officer
John Sauerland
Progressive
Chief Financial Officer
William Cody
Progressive
Chief Investment Officer
John Barbagallo
Progressive
Commercial Lines President
M Charney
Progressive
Chief Marketing Officer
Patrick Callahan
Progressive
Personal Lines President
Michael Sieger
Progressive
Claims President
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Source: SEC filing on March 29, 2019.