Robert W. Selander earned $11.3 million in total compensation last year as chief executive officer at MasterCard Inc., the world’s second largest credit and debit card brand.
That was 19 percent less than Selander’s compensation of $13.9 million in 2007, according to the company’s proxy statement.
MasterCard has withstood the global credit and economic crisis better than most financial companies. The company’s net revenue for the fourth quarter was $1.2 billion, up 14.2 percent from a year earlier, as the company benefited from consumers shifting more purchases to electronic transactions from cash and checks. MasterCard also has cut costs as the U.S. economy slowed.
MasterCard paid Selander a salary of $983,333 last year, up 9 percent from the previous year. His bonus of $68,833 dropped 17 percent from $82,800 a year earlier. Selander’s 2008 compensation also included $3.66 million in stock awards and $2.75 million in option awards.
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