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17 March 2026 | Press Release
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Copy LinkIn the race for talent and digital transformation, HR and IT leaders are winning at the pay table.
Chief Technology Officers and Chief Human Resources Officers are appearing more frequently among named executive officers (NEOs)—the five highest-paid executives at public companies. From 2021 to 2025, the number of CTOs named as NEOs in the Russell 3000 increased by 61%, while CHRO NEOs rose 55%.
While more HR and IT leaders have moved into the top rung, there’s been a decline in business unit leaders—positions such as top division executives or presidents of subsidiaries. Their representation declined by 15% from 2021 to 2025.
These and other shifts signal what functions boards view as most material to company performance and risk. While CEOs and Chief Financial Officers are mandatory NEOs, the remaining highest-paid positions are increasingly occupied by executives with enterprise-wide mandates spanning legal, technology, talent, and commercialization.
Report findings are based on proxy statements by Russell 3000 and S&P 500 companies filed through December 3, 2025.
Amid the AI boom, the share of NEO Chief Technology Officers increased by 61% in the Russell 3000.
Amid the talent war, the share of NEO CHROs increased by 55%.
“Growth in CHRO and CTO roles signals that talent, culture, and digital capability are now viewed as enterprise risks, not support functions. Boards are prioritizing leaders who shape resilience and transformation across the organization,” said Andrew Jones, coauthor of the report and Principal Researcher at The Conference Board.
(CEO and CFO disclosures are mandatory and therefore excluded from trend comparisons)
Business unit leaders remain dominant—but are receding.
Legal roles are gaining ground fastest.
COO representation remains high but has leveled off.
“The growth in legal NEO roles shows how regulatory, litigation, and enterprise risk are becoming central to executive decision-making. As governance and compliance pressures mount, boards are bringing legal leaders closer to the center of power,” said Dana Etra, Managing Director at FW Cook.
Among S&P 500 NEOs, women Chief Marketing Officers earn nearly 40% more than men.
At the CEO level, women outearn men.
But male NEOs outearn female NEOs.
“Gender pay differences largely reflect who holds which roles. Men remain more prevalent in higher-paid operational and commercial roles, have longer NEO tenure on average, and are more likely to work at larger companies with higher compensation,” said Paul Hodgson, lead author of the report and Senior Advisor to ESGAUGE.
NEO compensation grew faster in the Russell 3000 than in the S&P 500.
“NEO pay growth in the S&P 500 was targeted, not broad. Large-cap companies focused increases on roles tied to enterprise-wide risk and control, especially CHROs and CLOs, rather than raising compensation across the board,” said Jonathan Reinstein, Counsel at Ropes & Gray LLP.
Media Contact:
Daniela Banos
dbanos@tcb.org
