Black executive Lloyd Howell earns $3.5-million salary from Booz Allen in 2023

Mfonobong Nsehe -

Lloyd Howell, a renowned Black executive and former vice president and chief financial officer (CFO) of Booz Allen Hamilton, a leading American management consulting services company, was granted a compensation package totaling $3.49 million in 2023.

This compensation package which comprises a base salary of $0.77 million and a performance-based pay of $0.47 million underscores his commitment and expertise as a seasoned business executive. He also received a long-term incentive amounting to $2.1 million.

Howell’s legacy at Booz Allen: A CFO’s impact

Booz Allen Hamilton Holding Corporation which is the parent company of Booz Allen Hamilton Inc. reported a net income of $272 million and a gross profit of $4.95 billion in 2023 representing a 10.98-percent surge underscoring operational excellence across its extensive operations, encompassing management and technology consulting services with 28 subsidiaries.

Howell — who joined Booz Allen in 1988 and dedicated over 34 years to the company — played a key role in the group’s financial performance during his successful six-year tenure as CFO of the group, from July 2016 to October 2022.

Throughout his remarkable career, Howell held key leadership positions. Notably, from 2013 to 2016, he led Booz Allen’s civil and commercial group. Prior to that role, he served as the executive vice president of the client services office from 2009 to 2013.

Beyond retirement: Howell’s 0.13-percent stake reflects ongoing commitment to Booz Allen

Under his joint leadership, the company’s revenue surged by 10.7 percent from $9.26 billion in 2022 to $8.4 billion in 2023. Also, it registered an 8.71 percent expansion in total assets–from $6.03 billion in 2022 to $6.55 billion in 2023.

Beyond his executive and leadership roles at Booz Allen, Howell retains a personal stake in Booz Allen’s success. Despite retiring, he still owns a 0.13-percent minority stake (164,746 ordinary shares) worth $20.72 million—underscoring his continued commitment to the company that caters to management and technology consulting services.