Tampa International Airport chief executive officer Joe Lopano will end his last year before retirement the most well-paid he’s ever been.
He’s slated to earn more than $1.1 million this year — potentially more than any other airport CEO in the country. Lopano said he’ll step down when his contract ends in April next year.
A 2022 analysis by the Pittsburgh-Post Gazette found that Lopano had the highest base salary among U.S. airport CEOs in 2021. His pay then was around $544,000. His base pay for 2024 rose to about $839,000 after the Hillsborough County Aviation Authority board approved a 10% raise on Thursday.
In comparison, the airport CEO with the second-highest salary in 2021 — Christina Cassotis, CEO of the Allegheny County Aviation Authority, which oversees Pittsburgh’s airport — raked in $600,000 for her base salary in 2024.
Hillsborough board member Robert Watkins, a gubernatorial appointee, said he’s concerned about the board’s trend of “excessive CEO pay” during a meeting Thursday. He emphasized that the aviation authority is a public entity, not a private company.
“His salary has been increased significantly,” Watkins said. “I’m not sure he’s not the highest-paid CEO in North America in U.S. dollars.”
Watkins initially said he was in favor of offering Lopano a 10% raise, without tacking on a bonus. But the board ended up voting unanimously to approve an additional $300,000 bonus. Tampa Mayor Jane Castor stepped out before the vote.
Other board members lavished praise on Lopano’s tenure while voicing their support for a large bonus. Last year, Lopano earned a $250,000 bonus from the board.
“Our airport is the single biggest contributor to our area, our community in terms of revenue,” board member Gary Harrod said. “I don’t look at it within the community of other airports. I look at it as the benefit it has had on our community here.”
Harrod added that Port Tampa Bay CEO Paul Anderson earns almost as much as Lopano, despite the port taking in far less revenue per year. In November, the port’s governing board approved a pay package of around $950,000 for Anderson. The port earned $83 million in revenue in 2023, according to credit rating agency Fitch Ratings.
Employees told the board at Thursday’s meeting that the airport is positioned to take in $471 million for fiscal year 2025, which begins Oct. 1. That’s a nearly $50 million increase compared to this year.
The jump comes in part from increased revenue from airlines. The airport expects to serve 25.9 million passengers next fiscal year, up from a projected 25.3 million passengers for fiscal year 2024.
Hillsborough County Commissioner Harry Cohen, who sits on the board and voted in favor of the compensation package, said he wants to send the message to the next Tampa airport CEO that “excellence is going to be rewarded.”
“I personally don’t know if I’ve met anyone who is a better leader,” Castor said to Lopano during the meeting. “I have a great deal of sympathy for anyone who has to follow you.”
