Feeds

Microsoft adopts Say-on-Pay measure for shareholders

Hands 4% pay rise to Big Steve

Boost IT visibility and business value

Microsoft jacked up CEO Steve Ballmer’s salary by four per cent for the company’s bumpy 2009 financial year, which ended in June.

Redmond paid Ballmer $665,833 compared to his 2008 salary of $640,833, according to a US Securities and Exchange Commission regulatory filing.

The Microsoft boss, who at the start of this year announced the software vendor would cut around 5,000 jobs, said he didn’t want any equity compensation from the firm.

Ballmer currently owns around 408m MS shares worth more than $10bn. Microsoft didn’t reveal its boss’s bonus for the year. Ballmer reeled in a $700,000 bonus in 2008.

In January Microsoft told its employees and execs that they wouldn’t be handed merit-based pay rises for the 2010 fiscal year.

The decision followed the company’s first ever drop in annual sales and operating profit, which fell nine per cent to $20.9bn. Shares tumbled more than 13 per cent over the same 12-month period, as Microsoft - like so many other firms - tried to ride out the financial storm.

Microsoft said it has left its quarterly dividend at 13 cents per share.

Additionally, Microsoft’s board adopted a “Say-on-Pay” policy on Friday that the company first mulled in May this year.

The measure gives shareholders the opportunity to voice their opinion every three years about bonuses and salaries received by the vendor’s execs.

“Under the policy adopted by the Board today, Microsoft shareholders will be able to cast a non-binding, advisory vote every three years on the compensation programs for our senior executive officers,” said Microsoft’s general counsel Brad Smith.

He confirmed that the first such vote would take place at the software maker’s annual shareholders’ meeting on 19 November. ®

Boost IT visibility and business value

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.