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IBM to shell out $1.8million as salary to CEO

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International Business Machines Corp.(IBM),whose stock rose 16 percent last year as it expanded in software, said that Chief Executive Samuel Palmisano will be paid a $1.8 million salary in 2007.

He will also receive stock units worth $3 million vesting in 2011, and performance share units worth $7 million, payable in 2010, according to an IBM filing with the U.S. Securities and Exchange Commission.

Palmisano, 54, who became CEO in 2002 and has been with IBM since 1973, oversaw a 20 percent increase in net income in 2006 as the company made almost $4 billion in acquisitions to expand in software, its most profitable business.



posted by >> @ 2/06/2007 08:55:00 PM,


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