CEOs got millions after boards ‘neutralized’ the impact of tariffs. Some won't say what it was worth

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A report found that several company boards adjusted executive compensation to “neutralize” the financial impact of tariffs, ensuring large bonuses for CEOs like Christopher Calio of RTX ($27.7M), James Conroy of Ross Stores ($17.4M), and Richard Dickson of The Gap ($17.2M). While some companies disclosed the dollar amount of these adjustments, many, including RTX, Ross Stores, and The Gap, did not, raising concerns about transparency from executive pay consultants. This practice insulated executives from operational challenges caused by the unexpected trade war, questioning the fairness of compensation linked to business performance.

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