Meeting date: June 11, 2015
TJX CEO Carol Meyrowitz’s pay increased from $22,514,033 in FY 2014 to $28,692,391 to 2015. This represents a 27% increase. Her total pay is significantly above peers and double the average S&P 500 pay.
According to one analysis, the only CEO in the retail sector paid higher was at Target.
Meyrowitz’s pay is approximately 3.7 times the average of the other 4 named executive officers.
TJX this year trumpeted the fact that beginning in 2016 it would be increasing pay to $10 per hour for workers who have been with the company more than 6 months. It would take a worker working full time (unusual in the retail industry) 1,336 years, i.e. to the year 3351, to earn the amount Meyrowitz was paid in a year.