GameStop's Compensation Committee this week approved raises for various senior executives at the video game retailer for the company's fiscal year ending January 31, 2015 (fiscal 2014). The company announced the news in a Securities & Exchange Commission filing.
As you can see in the chart below, CEO Paul Raines, president Tony Bartel, CFO Robert Lloyd, and GameStop International EVP Michael Mauler are all getting raises. Meanwhile, GameStop executive chairman Daniel DeMatteo will continue to draw a $900,000 salary.
CEO Paul Raines will see the biggest bump in his paycheck, as his base salary is rising from $1,060,000 to $1,210,000--that's an increase of 14 percent or $150,000. His executive colleagues, except for DeMatteo, will receive pay raises of 3 percent each.
How does Raines' base salary company to other industry executives? Activision Blizzard CEO Robert Kotick makes $2.1 million per year, while Electronic Arts CEO Andrew Wilson is paid an annual salary of $800,000. Of course, both executives stand to make more than that thanks to bonuses and stock options.
The same is true for GameStop executives, so they stand to earn significantly more if earnings targets are met or if they exercise their option to sell shares. Raines' 2014 total direct compensation at target is actually $8,630,000.
GameStop reported an 18.8 percent increase in global revenue to $2.11 billion for the quarter ended November 2. The company will report earnings for the holiday quarter--during which the Xbox One and PlayStation 4 went on sale--on March 27.