Who: Symantec CEO Enrique Salem
Bonus amount: $3.1 million
Total 2010 compensation: $9 million
Company performance: Symantec reported a 3% drop in revenue while reversing a net loss for its fiscal year ended April 2, 2010. Revenue came in at $5.99 billion, down from $6.15 billion in 2009. Net income hit $714 million, compared to a net loss of $6.8 billion in 2009.
Justification for bonus: At Symantec, CEO Enrique Salem pocketed a $3.1 million bonus for 2010, which is more than double the $1.2 million cash bonus he got the year before but less than what he might have earned. "For fiscal 2010, each of our named executive officers received well less than his target payout (in the range of 46% below a full payout to 85% below a full payout)," the company said in its proxy statement. The three core financial metrics used to measure company performance are revenue, earnings per share and cash flow from operations.
These nine tech execs aren't the only ones who netted seven-figure cash bonuses last year. Others include: EMC CEO Joe Tucci ($2.6 million cash bonus); HP CFO Cathie Lesjak, who served as interim CEO during the search for Mark Hurd's successor ($2.6 million); Adobe Systems CEO Shantanu Narayen ($2.2 million); BMC CEO Robert Beauchamp ($2.2 million); NetApp CEO Tom Georgens ($2 million); Juniper CEO Kevin Johnson ($2 million); The CenturyLink CEO Glen Post ($1.9 million); Akamai CEO Paul Sagan ($1.4 million); CA CEO Bill McCracken ($1.3 million); Novell CEO Ron Hovsepian ($1.3 million); Citrix Systems CEO Mark Templeton ($1.2 million); Red Hat CEO Jim Whitehurst ($1.1 million); Riverbed CEO Jerry Kennelly ($1 million)
Originally published on Network World| Click here to read the original story.
This story, "9 gigantic bonuses that make yours look like chump change" was originally published by Network World.