IBM's CEO, other top execs give up 2013 bonuses

Feb 01, 2014

IBM CEO Virginia Rometty and the rest of her senior management team are relinquishing their 2013 bonuses as penance for the technology company's lackluster performance last year.

The decision disclosed in a Friday regulatory filing will result in a substantial pay cut for the affected executives, whose annual bonuses often exceed their salaries.

As CEO, Rometty will be the hardest hit. She received a $3.9 million bonus in 2012 and was eligible for a $4 million payout last year, although it's unlikely she would have received that much because IBM's didn't live up to expectations.

IBM's revenue slipped 5 percent last year. The Armonk, N.Y., company's earnings dipped by less than 1 percent, thanks to cost cutting.

Rometty still received a $1.5 million salary last year.

Explore further: Viacom CEO's 2014 pay rises 19 percent to $44.3 million

3 /5 (2 votes)
add to favorites email to friend print save as pdf

Related Stories

IBM posts higher 4Q net income (Update)

Jan 21, 2014

IBM's fourth-quarter net income grew 6 percent, surpassing Wall Street's expectations even though revenue fell. Its shares fell in extended trading after the results came out—and CEO Ginni Rometty said she's recommending ...

Oracle CEO Ellison's pay drops 18 pct to $78.4M

Sep 21, 2013

The value of Oracle founder and CEO Larry Ellison's pay package dropped 18 percent in fiscal 2013, to $78.4 million, after the company missed its internal financial targets and he declined his annual cash bonus.

Recommended for you

Microsoft profit dips as revenue rises

1 hour ago

Microsoft on Monday reported that its quarterly profit dipped as revenue increased with help from sales of Surface tablets, Xbox One consoles and cloud services.

IBM "flatly denies" report of mass layoffs

7 hours ago

Calling it "ridiculous" and "baseless," IBM on Monday dismissed a report that said the technology giant plans to lay off 1 in 4 of its workers, or 100,000 people.

NHL sends GoPro cameras onto the ice

Jan 23, 2015

Ice hockey fans will get a new perspective on the fast-moving game when National Hockey League players don GoPro cameras, starting with this weekend's all-star fixture.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.