Brief mention of Mayo Shattuck ’76 in an article about executive perks.
Some say the age of company-paid golf memberships, vacations and financial advice is waning for corporate bigwigs. “You’re actually seeing CEOs coming along saying, ‘Take my country club – please!’ ” says Steven Hall, a New York-based executive-compensation consultant. If so, many local companies haven’t heard.
Newly required disclosures reveal a panorama of executive pay and fringes just as “the Hubble Telescope … suddenly provided astronomers with clear views of distant galaxies,” enthuses USA Today.
At Constellation Energy, owner of Baltimore Gas and Electric and No. 119 on the Fortune list, perquisites are not de minimis. CEO Mayo Shattuck got fringes worth $214,344 last year. I know you’re wondering, so I asked: Shattuck doesn’t get free electricity, according to spokesman Lawrence McDonnell.
Constellation owns a part-interest in an airplane, but Shattuck doesn’t use it for personal trips, says the proxy statement. The company also provides a car allowance and a home security system, and pays for his wife, Molly, to accompany him on business trips. But most Shattuck fringes (worth $133,010) involved travel to and from non-Constellation business meetings, McDonnell said.
I wonder if Shattuck’s use of the Constellation box to ogle his wife and other cheerleaders is included in those SEC filings . . .