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ICANN Names New CEO, Will Pay Him $800,000 To Run the Internet
darthcamaro writes "ICANN has officially hired a new CEO to replace the Rob Beckstom. ICANN industry unknown Fadi Chehade is taking the top job — but there is a catch. He can't start for another 90 days, even though ICANN has been looking for a new CEO for months. Even better is Chehade's salary. ICANN will pay him $800,000 a year. Is the CEO of ICANN one of the highest paying jobs in the Internet governance landscape?"
Yeah, I mean, he has to run the business unit, ensure that sales and marketing are doing their jobs and that products are delivered to stores. Oh wait, HE AIN'T running a business at ALL!
People keep trying to rationalize these salaries as if there is some CEO shortage. Really it all about the good ole boy network and I will pad your salary and you pad mine. I remember after the banking crash in 2008 and they had someone reviewing salaries at banks. Every banking officer claimed that they were above average and deserved a raise!
I tell you what, lets set some goals for this guy as a CEO and if it meets them then he can have his huge salary. Otherwise this is just a welfare check to the overpaid.
the average CEO made 380 times what the average worker made in 2011.
No. The average CEO made far, far less than that. The figure you quote is only for CEOs of 300 of the largest public corporations. It doesn't include the millions of smaller corporations.