Compensation cuts may be coming to in-house counsel across the U.S. as a result of the Covid-19 pandemic, but recent proxy filings show that 2019 was lucrative for some law department leaders.
Two women topped the most recent batch of public company statements detailing their management’s performance last year.
Paula Johnson, executive vice president of legal and government affairs, general counsel, and corporate secretary at
Johnson also earned $2.24 million in cash, per the proxy filed last week by Phillips 66, a Houston-based energy company that has employed her as its legal chief since 2012. Bloomberg data shows that Johnson owns roughly $4.83 million in Phillips 66 stock.
Rashida La Lande, global general counsel at the
The former corporate partner at Gibson, Dunn & Crutcher earned $1.24 million in cash from Kraft Heinz, where La Lande also serves as a senior vice president, corporate secretary, and head of corporate social responsibility and government affairs. La Lande owns Kraft Heinz stock valued at $3.45 million, according to Bloomberg data.
Below is a list of 40 companies and their respective law department leaders sorted by their total compensation, a figure that often includes large grants of stock that vest over a period of years. To account for that lag, the total cash earned by each lawyer—a number that includes annual salary, cash bonuses, and non-equity incentive plan compensation—is listed parenthetically.
Philip Morris International Inc. – Marc Firestone, $7.37 million ($2.99 million)
The Boeing Co. – J. Michael Luttig, $7.3 million ($984,385); Luttig stepped down as general counsel in May 2019 and retired Dec. 31 from his role as a senior adviser to Boeing’s CEO.
Sempra Energy – George Bilicic Jr., $6.35 million ($1.73 million); Bilicic will collect nearly $3.25 million in severance from Sempra after resigning March 30 from the company he joined less than a year ago.
International Business Machines Corp. – Michelle Browdy, $5.59 million ($1.73 million)
Valero Energy Corp. – Jason Fraser, $5.50 million ($1.3 million)
Honeywell International Inc. – Anne Madden, $5.37 million ($2.73 million)
Murphy Oil Corp. – Walter Compton, $5.23 million ($1.28 million)
Pacific Drilling SA – Lisa Manget Buchanan, $4.94 million ($909,585)
Axalta Coating Systems Ltd. – Brian Berube, $4.81 million ($2.98 million)
CSX Corp. – Nathan Goldman, $4.64 million ($1.21 million)
Cigna Corp. – Nicole Jones, $4.56 million ($1.69 million)
Entergy Corp. – Marcus Brown, $4.42 million ($1.35 million)
Motorola Solutions Inc. – Mark Hacker, $4.30 million ($2.72 million)
General Dynamics Corp. – Gregory Gallopoulos, $4.21 million ($1.69 million)
TechnipFMC plc – Dianne Ralston, $4.16 million ($1.69 million)
EOG Resources Inc. – Michael Donaldson, $3.98 million ($1.29 million)
Molina Healthcare Inc. – Jeffrey Barlow, $3.84 million ($1.74 million)
Crown Castle International Corp. – Kenneth Simon, $3.81 million ($1.29 million)
Assured Guaranty Ltd. – Ling Chow, $3.60 million ($2.29 million)
Public Service Enterprise Group Inc. – Tamara Linde, $3.4 million ($1.18 million)
Arthur J. Gallagher & Co. – Walter Bay, $3.28 million ($2.03 million)
Concho Resources Inc. – Travis Counts, $3.27 million ($847,056)
American Electric Power Co. Inc. – David Feinberg, $3.24 million ($1.54 million)
BorgWarner Inc. – Tonit Calaway, $3.20 million ($1.43 million)
Harley-Davidson Inc. – Paul Jones, $3.17 million ($516,771); Jones stepped down in November after a decade as the motorcycle manufacturer’s top in-house lawyer.
Noble Energy Inc. – Rachel Clingman, $3.16 million ($1.40 million)
QEP Resources Inc. – Christopher Woosley, $3.11 million ($921,750)
Lattice Semiconductor Corp. – Byron Milstead, $3.05 million ($389,800)
MGM Resorts International – John McManus, $3.03 million ($1.76 million)
United States Steel Corp. – Duane Holloway, $2.97 million ($957,220)
Colgate Palmolive Co. – Jennifer Daniels, $2.96 million ($1.37 million)
Valhi Inc. – Andrew Nace, $2.92 million ($2.92 million)
Cenovus Energy Inc. – Alan Reid, $2.88 million ($1.04 million)
Aptiv plc – David Sherbin, $2.85 million ($1.11 million)
California Resources Corp. – Michael Preston, $2.79 million ($1.53 million)
HollyFrontier Corp. – Denise McWatters, $2.69 million ($356,058)
Alcoa Corp. – Jeffrey Heeter, $2.69 million ($759,626)
Dollar General Corp. – Rhonda Taylor, $2.69 million ($1.20 million)
Skyworks Solutions Inc. – Robert Terry, $2.67 million ($672,812)
Meritage Homes Corp. – C. Timothy White, $2.66 million ($1.75 million)