Invesco CEO Martin “Marty” Flanagan was the highest-paid chief executive in Georgia last year, according to an Associated Press compilation of the top-paid executives in each state.
Flanagan, 55, has headed the Atlanta mutual fund and investment management company since 2005. Invesco, which has about $738 billion in assets under management, moved its headquarters to Atlanta from London in 2007.
Flanagan’s pay rose slightly, to $15.9 million from $15.6 million in 2014, as the company’s profit fell 2 percent last year, to $968 million.
Flanagan’s pay was in the middle of the pack compared to top-paid CEOs in other states.
Dara Khosrowshahi, the chief executive at online travel site Expedia in Washington, last year was paid a whopping $94.6 million in total compensation, which usually includes a mix of cash salaries and bonuses, but also non-cash pay such as stock awards, pensions and other perks.
Timothy McGrath, at New Hampshire’s PC Connection, was at the bottom of AP’s list, with $1.9 million in compensation.
Flanagan usually hasn’t headed the list of Georgia’s highest-paid CEOs in previous years.
But top brass at some of the state’s biggest companies saw pay cuts in the last year or two due to flattening profits or slowdowns in the growth of pension plans or other perks.
Coca-Cola CEO Muhtar Kent took a 42 percent pay cut last year, to $14.6 million from $25.2 million the previous year, as he struggled to prop up the beverage company’s falling revenue.
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