IBM to shell out $1.8million as salary to CEO
Tuesday, February 06, 2007
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.Labels: tech updates
posted by >> @ 2/06/2007 08:55:00 PM,
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