IBM CEO's take-home down 14% in 2013
Quotes

IBM CEO's take-home down 14% in 2013

Last Updated: Tuesday, March 11, 2014, 10:00
 
 Comment 0
 
IBM CEO's take-home down 14% in 2013
Washington: International Business Machine Corp Chief Executive Virginia Rometty was paid USD 13.97 million in 2013, down from USD 16.2 million she took home in 2012, according to documents filed with the SEC on Monday.

Rometty`s base pay was unchanged at USD 1.5 million, but cash bonus under IBM`s annual performance-based incentive program was cut to zero from USD 3.9 million last year, due to a decline in revenue and related cash flow in 2013.

In explaining the move the company said "in view of overall results, Mrs. Rometty and her senior team recommended forgoing their annual incentive payout for 2013."

Compensation for other named executives in IBM — Chief Financial Officer Mark Loughridge, Senior vice presidents J.E. Kelly, R.C. Weber and Steven Mills also showed similar trends.

IBM, which had sold its low-end server business in January, had recorded a 4.6 percent decline in revenue in 2013.




Reuters

First Published: Tuesday, March 11, 2014, 10:00


Comments


comments powered by Disqus
G20 Summit 2014
G20 Summit 2014
2014`s Top People in Business: Fortune
2014`s Top People in Business: Fortune
World Bank`s Top 10 Places for Business
World Bank`s Top 10 Places for Business
India`s top ten billionaires
India`s top ten billionaires
Top 10 billionaire cities- In Pics
Top 10 billionaire cities- In Pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved