Microsoft CEO takes pay cut after rough year
Wednesday 30 September 2009
Microsoft Corp paid its chief executive Steve Ballmer 5.5 percent less for the last fiscal year as the world's biggest software company suffered its first ever drop in annual sales.
Ballmer, CEO since 2000, earned a total of $1,276,627 (£794,000) for fiscal year 2009, which ended June 30, according to a filing with securities regulators on Tuesday. That is slightly below the previous fiscal year's total of $1,350,834 (£840,000).
Ballmer's salary of $665,833 (£413,000) was up slightly from last year, but his bonus was slashed by $100,000 to $600,000 (£373,412). At his own request, Ballmer receives no compensation in the form of Microsoft shares.
Microsoft lowered compensation for most of its highest-level executives in the last fiscal year. It said in January that it had frozen salaries for fiscal 2010 which started July 1, in response to the difficult economic climate.
The company suffered its first-ever drop in annual revenue in fiscal 2009 and operating profit fell 9 percent to $20.4 billion (£12.7 billion). Its shares fell 13.6 percent over the 12-month period.
Even in good times, Microsoft has never made a splash with huge pay packages, although many of its employees and executives have become millionaires by owning Microsoft shares.
Ballmer himself owns about 408 million Microsoft shares, according to Tuesday's filing, worth more than $10 billion (£6.2 billion).
Life & Style blogs
Who is Teresa Fidalgo? Debunking the fake ghost story that's got Instagram spooked
Regin: Newly uncovered malicious software snooping since 2008 'was developed by a nation state'
The food fad that's starving Bolivia
Kim Kardashian recreates iconic Jean-Paul Goude naked 'Champagne Incident' photo
Henri de Toulouse Lautrec: Google celebrates 150th anniversary of French artist's birth
Rochester by-election: Ukip gains second MP as Tory defector Mark Reckless holds seat
'Beast of Bolsover' Dennis Skinner takes Ukip MP Mark Reckless to task moments after he is sworn in
Rochester by-election: Labour MP Emily Thornberry resigns after posting white van and England flags tweet
France 'blocks' Russian sailors from boarding a warship
Revealed: How the world gets rich – from privatising British public services
The young are the new poor: Sharp increase in number of under-25s living in poverty, while over-65s are better off than ever
- 1 Universities aren't working us hard enough, say undergraduates
- 2 Lego letter from the 1970s still offers a powerful message to parents 40 years later
- 3 To help fuel their propaganda machine against the poor, our government has now decided to redefine the word 'welfare'
- 4 Woman opens professional cuddling shop – gets 10,000 customers in first week
- 5 Grayson Perry: London needs affordable housing because 'rich people don't create culture'
iJobs Gadgets & Tech
£18000 per annum: Recruitment Genius: This IT support organisation focuses on ...
£26000 per annum: Ashdown Group: Technical Support Analyst / IT Support Analys...
£30 per hour: Ashdown Group: An industry leading and well established business...
£45000 - £50000 per annum: Recruitment Genius: This is a fantastic opportunity...