Microsoft Chief Executive Officer Steve Ballmer will have to make do with only a $670,000 cash bonus for the fiscal year ended June 30, which is half of the maximum bonus payout and equal to his annual salary, according to an SEC filing.
In a discussion of Ballmer’s pay, the filing brought up the “unsuccessful launch of the Kin phone, loss of market share in the company’s mobile phone business, and the need for the company to pursue innovations to take advantage of new form factors.”
Microsoft’s ill-fated Kin phone lasted only three months on the market before it was axed and can be considered one of the company’s bigger flops. Microsoft has also been scrutinized for not competing with Apple’s iPad, whether it be their own device (like the Courier) or via a third-party’s slate.
Despite all this, Ballmer still managed to help increase sales 7 percent to a record $62.5 billion. Ballmer was also lauded for reducing costs, launching the latest versions of Windows and Office, and promoting cloud computing and gaming.
Ballmer’s total pay package comes to $1.34 million for fiscal 2010.
via:
Steve Ballmer Takes Bonus Hit for Kin, Tablet Flops
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