An Indian-origin CEO has been ranked fourth on a list of top 25 overpaid CEOs in the United States, according to a new report.
Sandeep Matharani, who is the CEO of General Growth Properties, a Chicago based company, has been listed fourth on the list of top 25 overpaid CEOs in the United States, according to the report from the nonprofit 'As You Sow'.
The non-profit organization promotes social corporate and environmental responsibility and takes a close look at CEO pay.
According to the report, Matharani, with a total compensation of $39.2 million in 2016, is overpaid by $26 million.
Using a regression study that ties CEO pay to performance and other indicators such as the portion of pay that is offered in options and returns on corporate capital, 'As You Sow' has determined which CEOs are paid above and beyond their performance.
The gap between CEO’s performance to his pay is the criteria for the rankings.
Leslie Moonves, the CEO of CBS, is the most overpaid CEO in the United Sates. Moonves earned compensation worth $57.6 million in 2016.
Marc Benioff, the CEO of Salesforce is ranked second on the list with a total compensation of $33.6 million.
David Zaslav of Discovery Communication came in third with a compensation of $32.4 million.
Not only CEOs are overpaid, but the report says that their companies did not perform well on the S&P 500 last year, so there may also be a drag on shareholders return.
Matharani joined the General Growth Properties, at the time it was emerging from bankruptcy in 2010 and refocused the mall owner to high-end shopping centers.
Matharani has been mentioned many times as a potential candidate for a position in the Donald Trump’s administration.
General Growth Properties operates 126 retail properties across 40 states. With its HQ in Chicago, the company has 1,800 employees.