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Microsoft expands board of directors
Seattle, Sept 19: Microsoft Corp is expanding its board of directors with outsiders and an international flavour -- the head of Germany`s BMW and a former AT&T vice chairman -- to help highlight the board`s independence and experience with international affairs.
Seattle, Sept 19: Microsoft Corp is expanding its board of directors with outsiders and an international flavour -- the head of Germany's BMW and a former AT&T vice chairman -- to help highlight the board's independence and experience with international affairs.
Chairman of the board of management, Helmut Panke, of BMW Bayerische Motoren Werke AG of Frankfurt, Germany, since May 2002, would be the first Microsoft board member from outside the US.
"Helmut will bring a valuable global perspective to our board," chairman Bill Gates said in a news release. "His experience as chairman of one of Europe's most successful companies will be invaluable."
Yesterday, in a filing with the Securities and Exchange Commission, Microsoft said its top two executives earned $865,114 in salaries and bonuses for the 2003 fiscal year. There is an increment of 15 per cent from the year before. Gates and CEO Steve Ballmer each, earned salaries of $551,667 and bonuses of $313,447.
Chairman of the board of management, Helmut Panke, of BMW Bayerische Motoren Werke AG of Frankfurt, Germany, since May 2002, would be the first Microsoft board member from outside the US.
"Helmut will bring a valuable global perspective to our board," chairman Bill Gates said in a news release. "His experience as chairman of one of Europe's most successful companies will be invaluable."
Yesterday, in a filing with the Securities and Exchange Commission, Microsoft said its top two executives earned $865,114 in salaries and bonuses for the 2003 fiscal year. There is an increment of 15 per cent from the year before. Gates and CEO Steve Ballmer each, earned salaries of $551,667 and bonuses of $313,447.
The proxy statement also shows that Gates owns about 10.75 per cent of Microsoft's outstanding shares, or 1.16 billion shares. Ballmer holds 3.8 percent, or 441 million shares.
A committee of three Microsoft directors sets Gates' and Ballmer's compensation. The two are eligible to receive bonuses of up to 100 per cent of their salaries.
Bureau Report