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Microsoft CEO Steve Ballmer is only getting half of the bonus for which he's eligible this year, due to issues his company has faced competing in the mobile market.
The bonus check for Microsoft CEO Steve Ballmer was a little light this year.
(Credit: Microsoft CEO Steve Ballmer)
According to a Definitive Proxy Statement Microsoft filed yesterday with the Securities and Exchange Commission, Ballmer will receive a $670,000 bonus for his work during the company's 2010 fiscal year. That figure, which was approved by Microsoft's board of directors, is equal to 100 percent of his 2010 base salary. Although $670,000 is nothing to sneeze at, Ballmer was eligible to receive up to 200 percent of his base salary from the board.
Microsoft's board cited the company's $24.1 billion operating income, Ballmer's ability to manage expenses, and the successful launch of several products, including Windows 7, Office 2010, and Bing, as reasons for why the CEO deserved the bonus this year.
But the board also cited some issues with Ballmer's management in recent months--the company's fiscal year runs from July to June. It said that "the unsuccessful launch of the Kin phone; loss of market share in the company's mobile phone business; and the need for the Company to pursue innovations to take advantage of new form factors" also factored into its compensation decision.
Read more: http://news.cnet.com/8301-13506_3-20018246-17.html?tag=topTechContentWrap;editorPicks#ixzz11A9szUA3
The bonus check for Microsoft CEO Steve Ballmer was a little light this year.
(Credit: Microsoft CEO Steve Ballmer)
According to a Definitive Proxy Statement Microsoft filed yesterday with the Securities and Exchange Commission, Ballmer will receive a $670,000 bonus for his work during the company's 2010 fiscal year. That figure, which was approved by Microsoft's board of directors, is equal to 100 percent of his 2010 base salary. Although $670,000 is nothing to sneeze at, Ballmer was eligible to receive up to 200 percent of his base salary from the board.
Microsoft's board cited the company's $24.1 billion operating income, Ballmer's ability to manage expenses, and the successful launch of several products, including Windows 7, Office 2010, and Bing, as reasons for why the CEO deserved the bonus this year.
But the board also cited some issues with Ballmer's management in recent months--the company's fiscal year runs from July to June. It said that "the unsuccessful launch of the Kin phone; loss of market share in the company's mobile phone business; and the need for the Company to pursue innovations to take advantage of new form factors" also factored into its compensation decision.
Read more: http://news.cnet.com/8301-13506_3-20018246-17.html?tag=topTechContentWrap;editorPicks#ixzz11A9szUA3
