Company Rewards Three Years of Failure
1st February 2016
What do you get if you preside over 15 straight quarters of shrinking sales, evaporating profit and a sliding share price? A seven figure bonus if you are Ginni Rometty, the chief exec at IBM.
Her base salary for 2015 remained unchanged at $1.6m, but the bonus swelled by $1m to $4.6m. Oh, and the long term incentives package (due to vest in 2019) was $13.3m, according to a Securities and Exchange Commission filing.
The package is up on the $3.6m of last year, with the exec refusing to take home a bonus in 2013 citing “disappointment at the company’s output.” No such gesture was made for 2015.
Sounds like a great post-President job for Obama. He’s got the right skill-set.
Put this with Carly Fiorina’s tenure at HP and Marissa Mayer at Yahoo, and maybe you can begin to see why there aren’t a lot of female big-corp CEOs. Just maybe.
February 1st, 2016 at 12:07
Don’t limit criticism to the women; male CEOs are no better.
Could someone run a statistics check and find the level of money it takes to insure that no matter what you do, your finances just keep going up? Corporate officers, senators, hell just look at Trump! – they all seem just just fail “up”.