Pop quiz: Which executive took home the biggest pay packet in Japan last year?
Perhaps Akio Toyoda of Toyota Motor, or his successor, Koji Sato, who oversaw a doubling of the share price in the last fiscal year at what was already Japan¡¯s largest company? Maybe Tokyo Electron¡¯s Toshiki Kawai, with the chip equipment maker¡¯s shares surging nearly 14 times since he took over less than a decade ago?
Step forward instead Joseph DePinto, the head of U.S. operations for 7-Eleven convenience store owner Seven & I Holdings. He enjoyed some ?7.7 billion ($49 million) in compensation for the last fiscal year, one during which Seven & I¡¯s shares rose a mere 4%. Performance-related incentives ¡ª the U.S. now makes up the majority of the firm¡¯s revenue and profits, thanks to acquisitions that DePinto helped oversee ¡ª pushed his reward to 22 times that paid to his boss, Chief Executive Officer Ryuichi Isaka.
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