Thursday, May 23, 2013

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IBM pays CEO $15.4M in her 1st year on the job

By The Associated Press
From page A5 | March 12, 2013 | Leave Comment

ARMONK, N.Y. — IBM Chairman and CEO Virginia Rometty’s pay doubled in her first year running one of the world’s biggest and best-known technology companies, but she still took home less than her predecessor.

Rometty, the first woman to run IBM, received a 2012 pay package worth $15.4 million, based on an analysis of regulatory documents filed Monday. That’s up sharply from the roughly $7.5 million she made the year before as senior vice president in charge of the company’s global sales and marketing. As with most CEOs, most of Rometty’s compensation consisted of long-term stock awards that could wind up being worth more or less than the $9.3 million listed in the initial disclosures.

Rometty, 55, got off to a solid start, focusing on growing IBM’s software business, which has higher profit margins, over hardware. The Armonk, N.Y.-based company’s adjusted earnings climbed 13 percent from the previous year under Sam Palmisano and it forecast 2013 results above analyst expectations. Its stock price edged up just 4 percent last year, though, lagging the 7 percent gain in the Dow Jones industrial average, which consists of 30 bellwether stocks, including IBM’s.

The Associated Press

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