CEO Bill Rogers saw a year-over-year increase in total compensation of about 12% in 2024, according to a new U.S. Securities and Exchange Commission filing.
Rogers received a total pay package of $13.9 million last year. While Rogers' base salary remained unchanged at $1.2 million, a substantial rise in his incentive plan compensation and stock awards contributed to the jump in total earnings.
The biggest driver was Rogers' stock awards, which amounted to $6.4 million. Compensation from his non-equity incentive plan also increased sharply, climbing from $2.6 million in 2023 to $5.8 million in 2024. All other compensation for Rogers last year equaled $395,564. That includes a company match of $211,310 in non-qualified deferred compensation and $13,800 in 401(k) contribution.
Rogers' total compensation came out to $12.4 million in 2023 and $13.2 million in 2022. Fluctuations in incentive payouts underscore the performance-driven nature of Truist’s executive compensation strategy.
For 2024, Truist reported net income of $4.47 billion, or $3.36 per diluted share — compared to $4.8 billion, or $3.60 per share, in 2023. That's on revenue totaling $13.49 billion in 2024, a drop from $20.24 billion in the prior year.
Truist's stock price closed out 2024 at $43.38 per share, an increase from $36.92 at the end of 2023. Its shares were trading at $41.13 as of 2:41 p.m. today.
Here's a look at total compensation figures for Truist's other executive officers in 2024:
Michael Maguire, chief financial officer — $8.3 million, compared to $3.6 million in 2023
Kristin Lesher, chief wholesale banking officer — $14.5 million, no 2023 comparison
Hugh "Beau" Cummins, former chief operating officer — $8.02 million, compared to $6.72 million in 2023
Dontá Wilson, chief consumer and small business banking officer — $9.6 million, compared to $4.7 million in 2023
18 replies (most recent on top)
Lesher compensation likely reflects what she walked away from at Wells that we agreed to make her whole for. No way she will be worth it but we are and will continue to bring more Wells people to leadership.
Kristin Lesher, chief wholesale banking officer — $14.5 million, no 2023 comparison.
Wow! BIG BUCKS!
His comp is in keeping in line what other bank and brokerage firms CEOs are getting. Employees are laid off, jobs sent overseas while they get raises and purchase sponsorships of golf tournaments. They have no clue what the people who do the real work do.
2% for most of IT
Unstoppable…….Together
Almost 4%
Rogers severance if he were let go without cause is almost 40 million. He’s not going anywhere. Like Kelly before him he will be CEO into his 70’s.
3% pathetic in my opinion
under 3% here
- 5% for me. A slap in the face.
Obviously Bill isn’t going away anytime soon. Once he shoved Beau out he ended what appeared to be the heir apparent. No succession plan appears in place at this time. At some point this year someone will be named vice chair. Only question is will it be an existing EL member or will an outsider be brought in as Rogers future replacement. Look for this to be brought up by analysts at the next earnings call.
This board always devolves to either dog whistles or outright racism, pitiful.
Bill’s comp is similar to Bobby Bonilla’s deal with the Mets after 1999. $1M a year thru 2035. Gets paid to do nothing and it just keeps paying. He has 3 quarters left to figure it out in this obnoxious run towards the dump. They keep hiring hard charging fake fraudsters from mega banks yelling accountability and purpose yet all are sh-----g in their pants they will be scapegoats before the board ousts him.
Bunch of non-AVPs whining up in here!
https://www.bizjournals.com/charlotte/news/2025/03/17/truist-ceo-bill-rogers-compensation-increase-pay.html
3% for me lol
Those are rookie numbers, how are we supposed to feel pride in our Chief Exploitation Officer it he's not even putting out 50% gains year over year? The rank and file can certainly sacrifice more to ensure he has enough.
These salaries and total comp numbers appear rather excessive given the generally poor performance of the bank. We are still largely lagging our peers.