Microsoft CEO, Exec Salaries Revealed
According to Microsoft's annual board of directors review, company Chief Executive Officer (CEO) Steve Ballmer received a near six per cent salary increase over the fiscal year concluding June 30, 2010. The board's statement also revealed what they felt Ballmer had done well (and not so well) as Microsoft's top man.
According to Microsoft's annual proxy statement revealed late last week, Ballmer made about $1.34 million over the course of the 2009 / 2010 fiscal year. That represents an increase of about 5.8 per cent from the previous period.
For those not wowed by the numbers, keep in mind that Ballmer also owns 408 million shares in Microsoft stock -- by contrast, famous billionaire and Microsoft founder Bill Gates owns 621 million shares. (Source: dailyfinance.com)
Microsoft CEO Knocked For Kin Flop
The statement also made some mention of Ballmer's performance over the past fiscal year. Microsoft's top exec received high praise for helping the company make a successful shift into the cloud computing universe with products like Microsoft Office 2010, and for the notable release of new server and enterprise products.
However, Ballmer did receive some knocks from the board. In particular, they were not impressed with the firm's failed Kin phone launch, a project that ate up enormous company resources with virtually no return. The Kin handset was plagued by a series of bad decisions, none worse that the choice to make it incompatible with the upcoming Windows Phone 7 mobile operating system.
Overall, Microsoft's attempt thus far towards entering the smartphone business has been less than stellar, with competitors Apple and Google enjoying much greater success.
Microsoft Bonuses, Stock Options Bloat Exec Salaries
The report revealed several other Microsoft executive salaries, including former Chief Financial Officer (CFO) Chris Liddell (who departed in January 2010 for General Motors) at $2.2 million and Microsoft COO Kevin Turner, the recently acquired former Wal-Mart exec. Turner earned $10.4 million over the last fiscal year.
Most of Microsoft's top managers earned over $600,000 through base cash compensation, with more funds coming via bonuses and stock options. Ballmer earned a $670,000 bonus that equaled his base salary. (Source: minyanville.com)
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