Cloud Computing: IBM brings back bonuses for top execs even as profits slide
January 31, 2015
Grazed from Reuters. Author: Bill Rigby.
International Business Machines Corp brought back annual performance bonuses for its chief executive and her top lieutenants for 2014 despite falling profits and a tumbling stock price, a regulatory filing showed on Friday. The technology company, which has posted lower profits for 11 quarters in a row as it struggles to transform itself into a cloud-based software and services company, withheld annual bonuses in 2013 at the executives’ own request.
The bonuses returned as a feature of IBM’s executive compensation for 2014, according to a document filed with securities regulators on Friday, despite the fact that IBM’s net profit from continuing operations fell 7 percent last year and its stock shed about 14 percent…
IBM CEO Virginia Rometty will get a $3.6 million annual incentive payout for 2014, according to the filing. Chief Financial Officer Martin Schroeter and three other executives or advisers were also listed as getting smaller annual incentive payouts…
Read more from the source @ http://www.reuters.com/article/2015/01/30/us-ibm-compensation-idUSKBN0L32EL20150130