Andre Yoskowitz
4 Oct 2013 13:11
Microsoft CEO Steve Ballmer received $1.26 million in pay and incentives for fiscal 2013, despite taking a dock in pay for the Surface's failures.
The exec's base salary was $697,500, and the bonus was $550,000. The incentive bonus was only 79 percent of the total for which he was eligible. Last year, Ballmer received 91 percent of his eligible bonus.
Reads the company's proxy statement:
The companyfaced challenges due to weakness in the consumer PC market. While the launch of Windows 8 in October 2012 resulted in over 100 million licenses sold, the challenging PC market coupled with the significant product launch costs for Windows 8 and Surface resulted in an 18% decline in Windows Division operating income. Slower than anticipated sales of Surface RT devices and the decision to reduce prices to accelerate sales resulted in a $900 million inventory charge.