The CEO of the world’s largest company just had another very good year.
Walmart’s Doug McMillon received total compensation last year of more than $26.9 million, up $1.6 million from the year before, according to the company’s annual proxy statement filed Thursday with the SEC.
The pay package consisted of $1.5 million in base salary, $19.6 million in stock awards, and $5.8 million in other compensation.
It’s a sizable increase from his first wage job unloading trucks for the retailer earning $6.50 an hour in 1984, which would be about $19.79 in today’s dollars.
The 57-year-old Arkansas native is now in charge of 2.1 million workers across more than 10,000 retail stores around the globe, and annual sales of $648 billion — that’s more people and higher sales than any other private employer in the world.
Of those 2 million-plus workers, the median employee was paid $27,642 last year, up 1.8 percent from last year. McMillon’s compensation is 976 times that amount.
By comparison, Target CEO Brian Cornell’s most recently disclosed compensation package was $17.6 million, while Craig Jelinek made $16.8 million in his final year as Costco CEO. Their pay ratios were 680 and 336, respectively.
Under a new calculation that companies are required to disclose as of last year, McMillon saw his net worth grow by nearly $47.5 million last year after adjustments to recognize the fair value of his stock awards.
Since 2009, Walmart has paid McMillon a combined total of nearly $163 million for his work as an executive. Prior to becoming CEO, McMillon was in charge of the corporation’s international division from 2009 to 2014, and head of Sam’s Club from 2005 to 2009.
McMillon now owns more than 5.1 million shares of Walmart stock, worth $306 million at Friday’s closing price.
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