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Originally published June 28, 2014 at 8:02 PM | Page modified June 30, 2014 at 11:46 AM

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Boeing boss didn’t make our list, but did top another

Boeing’s CEO didn’t make the cut on our rankings of Northwest companies, but he did rank in a Chicago-area list; Microsoft produces an Android phone on Nokia’s behalf; Russell adds regional firms.


Seattle Times business staff

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The Seattle Times’ annual survey of what companies based in the Northwest paid their chief executives failed to mention one that has the biggest impact on the economy — Boeing. The jet maker moved its headquarters in 2001 to Chicago, making the company ineligible for the ranking.

Boeing Chairman and CEO Jim McNerney, however, did make the list of the best-paid CEOs among large public companies in the greater Chicago area last year, with a total-pay package worth $23.3 million.

The aerospace executive was No. 1 in total pay among CEOs at the 100 largest public companies in Illinois and northwest Indiana, according to a survey by Equilar. The Chicago Tribune published the survey results earlier this month.

Boeing last year compensated McNerney with $1.9 million in base salary and $12.9 million in nonequity incentives, according to the company’s proxy filing. McNerney was also paid $3.7 million in stock awards and $3.7 million in stock options, although those values are hypothetical. McNerney also received $885,553 in the form of such perks as use of company aircraft for travel, home-security expenses and charitable donations.

It was McNerney’s fourth-straight year among the five best-paid CEOs in the greater Chicago area, the Tribune reported. He would have ranked No. 3 among Northwest CEOs, behind John Legere, of T-Mobile US, and Darrell Cavens, of zulily. The highest paid CEO on The New York Times list was Charif Souki, of Cheniere Energy.

With McNerney at the helm, Boeing last year “delivered strong operating performances across each of its businesses” and increased its backlog of orders, spokesman John Dern said. The aerospace manufacturer also delivered a shareholder return exceeding 80 percent, Dern said.

The company was not required to disclose the compensation for Ray Conner, CEO of Boeing Commercial Airplanes, the Boeing business unit based in Seattle.

That indicates that Conner is not among the top five highest compensated execs at the company, which employs more than 81,000 in the state.

In a speech Wednesday night, Conner said Boeing spent $5 billion doing business with nearly 2,000 Washington suppliers.

Boeing shareholders are clearly content with their executives’ pay.

In a nonbinding “say-on-pay” vote in April, investors cast 93 percent of their shares in favor of the company’s executive-compensation package, according to a regulatory filing.

— George Erb

Microsoft’s Android phone

Microsoft is now making Android phones?

Yep — well, a forked version of it.

Last week, Microsoft introduced the Nokia X2, the newest in a family of Nokia smartphones running a custom version of Android.

Nokia in February had introduced the Nokia X, X+ and XL phones, all based on Google’s open-source Android operating system.

The phones can run Android apps but are all tied by default into Microsoft’s services such as Skype, OneDrive and Outlook.com, rather than to Google’s services.

There was a question, though, after Microsoft closed its acquisition of Nokia in April, whether Microsoft would continue producing this line of phones.

That question was answered last week when Microsoft said in its news release that the company “continues to invest in services for the Nokia X family.”

Microsoft said the Nokia X phones are driving “strong uptake of services such as Skype and OneDrive,” and that the company has introduced new services to the lineup including OneNote and Yammer — now available for download in the Nokia Store.

The Nokia X is the top-selling smartphone in Pakistan, Russia, Kenya and Nigeria, and is the third top seller in India, Microsoft said.

The Nokia X range of phones is targeted toward the emerging market. As Microsoft puts it, the goal is to “introduce the ‘next billion’ people to the mobile Internet and cloud services” — Microsoft’s services, presumably.

Microsoft says it has no plans to introduce the Nokia X2, or others in the Nokia X range, in the U.S.

“We believe the U.S. market is well-served by our Lumia range of Windows Phones,” the company said in a statement.

— Janet I. Tu

Russell Index adds NW companies

As Russell Investments reconstitutes its set of U.S. and global equity indexes, a few Northwest companies have made the cut — and a few have been cut.

Each June, Russell realigns its family of indexes to reflect market changes over the past year.

Russell posted its preliminary list earlier this month, and after the close of the market Friday, among the bustle of the news of Russell being bought by The London Stock Exchange Group, the additions and deletions became official.

Alder Biopharmaceuticals, a Bothell company developing drugs for migraines and autoimmune and inflammatory diseases, went public in March and has just been added to the Russell 3000.

Making the list so quickly after its IPO “will further bolster our visibility and reach in the investment community,” Alder CEO Randall Schatzman said in a statement.

Also added to the Russell 3000 were: Cascade Microtech, a semiconductor test-equipment manufacture in Beaverton, Ore.; and CUI Global, a company dedicated to the acquisition, development and commercialization of new technologies in Tualatin, Ore.

Northwest companies that were removed this year include: OncoGenex Pharmaceuticals, a company developing cancer treatments based in Bothell, and Radisys, a company that makes wireless infrastructure solutions in Hillsboro, Ore.

— Coral Garnick



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