JUMPING SHOUTING Microsoft CEO Steve Ballmer has been awarded only half of his allowable maximum bonus after having overseen lower than expected Windows Phone 7 sales.
Business Week reports that the CEO did not get his full bonus for the financial year 2011 because of low sales and a drop in revenue in the Microsoft Windows software business.
A filing at the US Securities and Exchange Commission shows that Ballmer was paid $1.38m for 2011. This includes a bonus equal to 100 per cent of his salary, the report adds, but was only half of what he could have won, which is set at twice his annual pay.
The Microsoft board added in the filing that Ballmer had been underpaid. Something that a lot of other people might argue with.
The directors applauded Ballmer for Microsoft's operating income, as well as the firm's progress on the next version of Windows and some partnerships, including the one with Nokia.
Other highlights for the board included progress with Bing and Azure, the Skype purchase, the release of body tracking Kinect for the Xbox and, we like to think, going easy on the jumping and shouting. µ
Tags: Microsoft
Bonuses based on performance and meeting business goals? Wow! Imagine what would happen if this idea caught on (on Wall Street)!!! I can't say I'm sorry for Balmer, he still got a pretty good bonus regardless ($700K), and besides, it's not really about the money (the guy is worth billions). Maybe if more companies paid their executives based on their performance and showed them the door for non-performance, then maybe we'd all be a little better off...
I just love that jumping, sweating fat man, Steve Ballmer. I hope he NEVER leaves the company. LOL.