Microsoft Corp. says it raised CEO Steve Ballmer’s salary by 4 percent in fiscal 2009 as the software maker’s profit plunged 17 percent on weak personal computer sales. Ballmer’s salary rose to $665,883 from $640,833, according to a preliminary filing Friday with the Securities and Exchange Commission. The CEO’s bonus was $700,000 last year.
Microsoft didn’t disclose Ballmer’s bonus for fiscal 2009. In an uncommon move, the company’s board proposed a “say-on-pay” measure that would give shareholders a chance to weigh in every three years on executive compensation. Microsoft’s 2009 earnings fell to $14.6 billion from $17.7 billion in 2008. Sales dropped 3 percent to $58.4 billion, the first time its revenue declined since it went public in 1986.
- Microsoft blames constrained chip supplies for PC market slowdown
- Apple boss hints at lower iPhone prices to fight falling sales
- Still haven’t upgraded your iPhone? Apple says that’s causing poor sales
- In 2018, smartphone sales stopped growing annually for the first time
- Strong holiday season pushes Nintendo Switch to record-breaking sales for 2018