Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

IBM's CEO, other senior managers forego annual bonuses after tech company's lacklustre year

ARMONK, N.Y. - IBM CEO Virginia Rometty and the rest of her senior management team are relinquishing their 2013 bonuses as penance for the technology company's lacklustre performance last year.

The decision disclosed in a Friday regulatory filing will result in a substantial pay cut for the affected executives, whose annual bonuses often exceed their salaries.

As CEO, Rometty will be the hardest hit. She received a $3.9 million bonus in 2012 and was eligible for a $4 million payout last year, although it's unlikely she would have received that much because IBM's financial results didn't live up to expectations.

IBM's revenue slipped 5 per cent last year. The Armonk, N.Y., company's earnings dipped by less than 1 per cent, thanks to cost cutting.

Rometty still received a $1.5 million salary last year.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
Submit a Random Act of Kindness
Why Not Minot?
Welcome to Winnipeg

Social Media

Canadian Mortgage Rates