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Arizona's Highest-Paid CEOs

Arizona's Highest-Paid CEOs

Information for the Phoenix Business Journal's annual Highest-Paid CEOs list was taken from DEF 14A proxy reports filed with the U.S. Securities & Exchange Commission by Arizona-based, publicly held companies. Information points on the list are: base salary, bonus, stock awards and options, non-equity incentives, pension value changes, other income and total compensation.
For information about this and other Phoenix Business Journal Lists, please contact Research Director Dale Brown at dbrown@bizjournals.com or 602-308-6511.
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Discover Yourself Named to Inc. 5000 for Second Time
Discover Yourself Named to Inc. 5000 for Second Time

Business Wire

time23 minutes ago

  • Business Wire

Discover Yourself Named to Inc. 5000 for Second Time

EXCELSIOR, Minn.--(BUSINESS WIRE)--Discover Yourself, the world's largest distributor of the Insights Discovery® personality assessment, has once again been named to the Inc. 5000 list of America's Fastest-Growing Private Companies. This second-time honor places the Minnesota-based training firm alongside some of the country's most innovative and dynamic businesses. 'Being named to the Inc. 5000 is more than an award. It's proof our methods work, and that organizations everywhere are hungry for meaningful change.' Share The Inc. 5000 list is widely regarded as the hallmark of entrepreneurial success, celebrating innovation, customer impact and sustained revenue growth. Earning a spot on the list twice reflects Discover Yourself's strong performance, and its enduring ability to adapt and deliver value in a rapidly changing workplace environment. Easily the most colorful company on the Inc. 5000 list Founded by internationally recognized speaker, author and trainer Scott Schwefel, Discover Yourself transforms communication and teamwork by teaching the universal language of color. Through the Insights Discovery framework, individuals identify their unique blend of Fiery Red, Sunshine Yellow, Earth Green and Cool Blue energies, unlocking self-awareness and awareness of others. This approach enables participants to reduce misunderstandings, build stronger connections and collaborate more effectively. 'Most people who train with us have done other personality assessments but rarely use them. With ours, they start applying it immediately because every conversation, every email and every interaction gets better,' says Schwefel. Discover Yourself's programs — ranging from leadership development and sales training to executive coaching and team-building workshops — are trusted by global brands such as Caterpillar, 3M, Whirlpool, Zendesk and Workday. The company is actively expanding its reach with new online learning platforms, scalable virtual workshops and digital resources to make its programs accessible to teams anywhere in the world. Its reach spans all 50 states and more than 30 countries, powered in part by newly launched digital clones that can deliver on-demand training in 170 languages. Schwefel, one of only 60 global faculty certified to train other trainers, has personally taken 4,000 CEOs through Insights Discovery training, and has spoken to more than 2000 groups. His TED Talk has nearly four million views. He is also a popular keynote speaker worldwide. 'Being named to the Inc. 5000 is more than an award. It's proof our methods work, and that organizations everywhere are hungry for meaningful change,' comments Schwefel. Discover Yourself has grown from a two-person operation to 17 employees, who support a global network of more than 300 Insights Discovery certified facilitators. Clients reporting measurable boosts in collaboration, productivity and leadership capability. Visit Discover Yourself to take a one-minute quiz to discover where you fall in the color model. If you'd never experienced Insights Discovery and would like to learn more, contact Scott@

FTC LAWSUIT VS. GRAND CANYON DISMISSED AGAINST ALL PARTIES
FTC LAWSUIT VS. GRAND CANYON DISMISSED AGAINST ALL PARTIES

Yahoo

timean hour ago

  • Yahoo

FTC LAWSUIT VS. GRAND CANYON DISMISSED AGAINST ALL PARTIES

Decision fully exonerates GCU after years of politically motivated lawfare by Biden Administration officials against largest Christian university in country PHOENIX, Aug. 15, 2025 /PRNewswire/ -- The Federal Trade Commission (FTC) voted unanimously today to dismiss its lawsuit against Grand Canyon University's largest service provider — Grand Canyon Education — and Brian Mueller, ending years of coordinated lawfare by government officials under the Biden Administration against the largest Christian university in the country. The lawsuit, which had already been dismissed by the United States District Court of Arizona against Grand Canyon University on jurisdictional grounds, has now been completely dropped after all parties filed a joint Stipulation of Dismissal with Prejudice with the court. In a unanimous ruling issued by FTC Chairman Andrew N. Ferguson and the other two commissioners, he stated: "This case, which we inherited from the previous administration, was filed nearly two years ago and has suffered losses in two motions to dismiss. These losses are compounded by recent events: Grand Canyon secured a victory over the Department of Education in a related matter before the Ninth Circuit; the Department of Education rescinded a massive fine levied on related grounds; and the Internal Revenue Service confirmed that Grand Canyon University is properly claiming 501(c)(3) non-profit corporation designation." GCU President Brian Mueller said he was appreciative that current FTC officials took an objective look at the case and recognized the numerous agencies and courts that have already ruled in GCU's favor on the same allegations. "As we have stated from the beginning, not only were these accusations false, but the opposite is true," Mueller said. "We go above and beyond what is required in our disclosures and are recognized as a leader in this area." GCU has also maintained that the allegations were a coordinated effort by former officials within the Biden Administration to undermine a thriving Christian university. "They threw everything they had at us for four years, and yet, despite every unjust accusation leveled against us, we have not only survived but have continued to thrive as a university," Mueller said. "That is a testament, first and foremost, to the strength and dedication of our faculty, staff, students and their families. Above all, it speaks to our unwavering belief that the truth would ultimately prevail." BACKGROUND: A COORDINATED CAMPAIGN Shortly after GCU filed a lawsuit against the Department of Education challenging its nonprofit classification, then-FTC Commissioner Rohit Chopra publicly announced in October 2021 that his agency would work alongside ED and the U.S. Department of Veterans Affairs to intensify scrutiny of for-profit institutions — a category which Democrats historically have opposed and which ED controversially kept GCU in 2019 despite prior approvals from all other regulatory bodies. Those agencies, under the guise of "consumer protection," collectively launched five investigations against GCU in what essentially were fishing expeditions requesting voluminous amounts of information in hopes of uncovering wrongdoing. Each claim by one agency subsequently triggered copycat lawsuits and investigations by the other agencies for the same claim, flooding GCU with duplicative allegations and forcing the university to expend thousands of employee hours and millions of dollars to defend itself. The major "findings" of those inquiries — which were related to GCU's doctoral disclosures and nonprofit status — have now been repeatedly discredited or dismissed by multiple agencies and courts. Doctoral program disclosures: GCU's financial disclosures around continuation courses in its doctoral programs — which are common in higher education — were deemed a "substantial misrepresentation" by former ED officials despite the fact that GCU provides more transparency than is legally required or that other universities typically provide. The same allegations, which resulted in an unprecedented fine of $37.7 million by ED, were reiterated in the FTC lawsuit. Numerous independent agencies and courts have refuted or dismissed those accusations: Similar doctoral claims were rejected by both the U.S. District Court for the Northern District of Georgia and 11th Circuit Court of Appeals in a parallel case (Young v. GCU). GCU's accrediting body, the Higher Learning Commission (HLC), described GCU's disclosures as "robust and thorough" in its 2021 comprehensive review. A 2024 review of GCU's disclosures and processes by the Arizona State Approving Agency for the Department of Veterans Affairs found "no substantiated findings." Finally, in March 2025, ED itself rescinded the proposed fine, with prejudice — finding no wrongdoing by GCU and confirming that the university did not violate any Title IV requirements. ED stated: "Unlike the previous administration, we will not persecute and prosecute colleges and universities based on their religious affiliation." Notably, former ED officials, including Federal Student Aid Chief Operating Officer Richard Cordray and Secretary Miguel Cardona, did not cite any student complaints in imposing their unprecedented fine, yet publicly accused GCU of "lying" to its students and called for the university to be "shut down." Nonprofit status: GCU's 2018 return to its historic status as a 501(c)(3) Arizona nonprofit institution, which followed a lawful and transparent process, was repeatedly contested by ED and cited again in the FTC lawsuit despite the fact that it had been approved or acknowledged by: IRS State of Arizona HLC Arizona Board for Private Postsecondary Education NCAA Athletics Independent evaluations from two nationally recognized accounting/finance firms confirmed the nonprofit transaction was at fair market value and would benefit the university. GCU's status was further validated when a three-judge panel of the Ninth Circuit Court of Appeals ruled unanimously in November 2024 that ED lacked the authority under the Higher Education Act to apply the legal standard it used in making such a determination and remanded it back to the Department to apply the correct standard. And, in May 2025, the IRS reaffirmed GCU's status after completing a comprehensive four-year audit of the university. In light of the Ninth Circuit ruling and IRS reaffirmation, ED is currently re-examining its classification of GCU as it pertains to Title IV funding and the university is hopeful that a decision will be rendered soon. Ten Arizona Congressional members have sent a bipartisan letter urging ED to recognize GCU's nonprofit status. VA audits: A VA State Approving Agency (SAA) inquiry in 2023 claimed that two factual and commonly used statements in GCU's advertising – "Cybersecurity experts are in high demand" and "Every company needs cybersecurity" – were somehow "erroneous, deceptive or misleading." Seventeen of the top 23 undergraduate cybersecurity programs in the U.S. News and World Report rankings have made similar statements about a variety of their cybersecurity programs. To our knowledge, none of those well-respected institutions have received any type of review of their advertising claims by the VA. After GCU disputed the findings and detailed its extensive processes to ensure the validity of its statements in marketing and advertising communications, the SAA was satisfied with GCU's response and took no further action. Second (2024) and third (2025) VA/SAA risk-based audits, both triggered by the FTC lawsuit, resulted in "no substantiated findings" after they completed thorough on-campus examinations of the university's disclosures and processes. A LARGER PATTERN The disturbing pattern in the allegations brought by former agency officials in the Biden Administration is that they center on practices that are commonplace among institutions in higher education, yet GCU was singled out for disproportionate and unusually aggressive scrutiny. "This was not about protecting students and went well beyond normal regulatory activity," Mueller said. "The language used by these officials, the record fines they sought, and the baseless accusations they made all point to a broader ideological agenda." This 2024 commentary from the Goldwater Institute summarized the situation: "The real motivation for department bureaucrats seems clear: even if they can't prove their allegations against GCU, they intend for the process to be the punishment." LOOKING FORWARD With the FTC lawsuit now dismissed and all federal government allegations resolved in its favor, GCU is focusing on the future. "We support common sense government oversight but we vehemently reject ideologically driven, weaponized government actions that are not applied equally and equitably to all institutions," Mueller said. "As an institution that has a strong record of cooperation and great relationships with 26 different regulatory and accrediting bodies, we are doing an exemplary job of addressing the many challenges that are plaguing higher education while also living out our Christian mission both on our campus and in the surrounding community. That is reflected in the growing demand from students and families who are seeking a higher education option at GCU that is affordable and taught from a Christian worldview perspective. That mission, not politics, is our motivation and we look forward to putting our full attention to those efforts in the future." About Grand Canyon University: Grand Canyon University was founded in 1949 and is Arizona's premier private Christian university. GCU is accredited by the Higher Learning Commission and offers 353 academic programs, emphases and certificates for both traditional undergraduate students and working professionals. The University's curriculum emphasizes interaction with classmates, both in-person and online, and individual attention from instructors while fusing academic rigor with Christian values to help students find their purpose and become skilled, caring professionals. For more information, visit View original content to download multimedia: SOURCE Grand Canyon University

In 2023, Mass. hospitals pushed executive pay to new heights
In 2023, Mass. hospitals pushed executive pay to new heights

Boston Globe

timean hour ago

  • Boston Globe

In 2023, Mass. hospitals pushed executive pay to new heights

That total reflected base salary, bonus pay, retirement benefits, and more. It was a 40.1 percent increase from the prior year, and included roughly $4.3 million in bonus and incentive pay. The amount is the highest total compensation reported by a Massachusetts hospital CEO in at least the last decade. In a statement, MGB Board Chairman Scott Sperling stood by Klibanski's compensation package, which he said was based on industry benchmarks with input from a consultant. Advertisement 'The challenges facing our industry are many, and the competition for top talent is unprecedented. It is imperative that we actively and robustly recruit and retain at every level to ensure we can expertly care for patients and communities for years to come,' Sperling said. 'Our objective, on average, is to base compensation for our senior executives at the 50th percentile of the current market, with performance driving any adjustments,' he said. Advertisement Previously, the health system has pointed to the leaders at other national health systems than her Massachusetts colleagues. Indeed, her 2023 salary ranked below some, including CEO of New York-based Northwell Health ($9 million) and Arizona-based Banner Health ($14 million). However Klibanski eclipsed others, including the CEOs at Cleveland Clinic ($7 million), and Mayo Clinic ($4.3 million). While the most recent compensation report lags by two years, Sperling pointed to how Klibanski had handled recent challenges as an example of what he said was her 'clear-eyed leadership,' including disruptive federal actions that have threatened research and an inpatient capacity crises. Dr. Anne Klibanski, with then-Governor Charlie Baker, pictured speaking at a coronavirus briefing in 2020. Sam Doran/Pool 'The Board of Directors fully supports Dr. Klibanski's compensation package ... which reflects her achievements and stewardship of an organization of this size and complexity,' Sperling said. Klibanski had plenty of company in the ranks of well-paid Massachusetts hospital executives in 2023. Dr. Kevin Tabb, who heads the state's second largest health system, Beth Israel Lahey Health, also reported a sizable increase, with his $5.4 million in total compensation representing a 93 percent increase from the prior year. The increases were a return to compensation Tabb reported in 2021, and were largely thanks to increases in bonus and incentive comp, as well as retirement and other deferred compensation. Dr. Eric Dickson, chief executive of UMass Memorial Health, reported a nearly 26 percent increase in total comp, to $3.9 million. The hospital said it changed its retirement plan in 2023, prompting an early payout of some benefits. That shift subsequently boosted the incentive compensation of several executives, including Dickson. Advertisement Similarly, Dr. Michael Gustafson, who left as president of UMass's flagship hospital, UMass Memorial Medical Center, in July 2023, reported a 60 percent increase in total comp to $2.8 million. Michael Dandorph, who helms Tufts Medicine, also reported a double digit increase in total comp. His $2.1 million total compensation was 32 percent higher than the previous year. Dr. Alastair Bell, CEO of Boston Medical Center Health System since June 2023 and its president since November 2022, saw his total comp increase by 34 percent to $1.9 million. Large jumps weren't universal. Other executives saw smaller changes including Dr. Kevin Churchwell ($3.2 million, down 5 percent) at Boston Children's Hospital, Dr. Mark Keroack ($2.8 million, a 4.8 percent increase) at Baystate Health where he served until 2024, and Dr. Laurie Glimcher ($2.5 million, up 5 percent) at Dana-Farber Cancer Institute which she led until 2024. Dr. Kevin Churchwell, CEO of Boston Children's Hospital, saw his compensation go down 5 percent from 2022 to 2023. Erin Clark/Globe Staff The data tracks with a study by the Harvard School of Public Health, which showed that executives overseeing large teaching hospitals nationally were the highest compensated. The study, However, there was no association between compensation and the degree of community benefit a hospital provided, nor was higher compensation associated with better patient mortality rates or readmission rates, according to the study. The Massachusetts Nurses Association lambasted executives for the pay, particularly as they said the quality of care at hospitals across the state has suffered. 'At a time when nearly 80% of Massachusetts nurses say hospital care has gotten worse in the last two years, it is deeply troubling that hospital CEOs are taking home enormous compensation packages while continuing to fail to ensure safe conditions for patients and direct care providers,' the nurses union said in a statement. Advertisement 'The very same executives receiving millions of dollars per year are making decisions not to invest in bedside care or listen to caregivers,' it said. The salaries reflect a time when hospitals were just beginning to climb out of the effects from the pandemic. Volume and revenue had begun to rebound in the year that for many hospitals ended September 2023, with Often, hospital executive compensation has been tied to a system's size and comparisons to others in the market, said Susan Malanowski, managing director of compensation consultant the Wilson Group. There are pressures on boards to hire competent executives, and the pool of applicants is smaller than it has been in the past. 'To be competitive, it is what it is,' Malanowski said. 'There is not really a big supply of competent CEOs or c-suite (executives).' While the most recent compensation data is for 2023, hospitals will be harder pressed to support large pay packages in 2025 and onward, Malanowski predicted. Uncertainty at the federal level will mean non-profit institutions will have to be more circumspect about where they set base salaries, and compensation increases are projected to be smaller. Advertisement Jessica Bartlett can be reached at

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