Gap CEO Takes Slight Pay Cut, Receives Huge Compensation

Even though the clothing giant improved sales in 2009, Gap CEO Glenn Murphy, 48, has taken a pay cut. Murphy, according to an AP report, "received compensation valued at $5 million, down 7 percent from a year ago." But we don't think he'll be signing up for food stamps anytime soon. Based on regulatory filing, Murphy "also received other compensation totaling $163,382, including $91,894 for personal use of the company's airplane and $42,238 for company match to a deferred compensation plan."