[WSJ] AMD Reverses Salary Cuts For Its Top Executives

1865 Views 32 Replies 26 Participants Last post by TFL Replica, Nov 22, 2009

rico2001

Discussion Starter · Nov 22, 2009

Quote:

AMD Reverses Salary Cuts For Its Top Executives

Top executives of Advanced Micro Devices Inc. (AMD) got back sizeable chunks of their salaries that were slashed earlier this year, the chip maker said in a regulatory filing Friday.

AMD said the compensation committee of its board of directors has reversed previously set pay cuts for Chief Executive Dirk Meyer, Robert Rivet, chief operations and administrative officer, and Tom McCoy, executive vice president for legal affairs, according to a Friday filing with the Securities and Exchange Commission.

Meyer's salary was reinstated from $720,000 to $900,000; while Rivet's pay was pulled back up from $552,500 to $650,000, and McCoy's salary was reinstated from $462,400 to $544,000.

The company said "because annual bonus targets are a percentage of annual base salary, the across-the-board increases, in effect, would also increase fiscal 2009 annual bonus payments, if any." The reversals were approved on Nov. 16, the company said.

The move comes shortly after a major settlement of legal disputes in which Intel Corp. (INTC) agreed to pay $1.25 billion to AMD.

"Well, didn't take them long to figure out what to do with some of the money," analyst Roger Kay of Endpoint Technologies Associates said in an email interview.

Kay said that "in the scheme of things, the dough is small potatoes, but in this climate, everything of this sort gets scrutinized much more closely than it otherwise would."

"Everyone was on iron rations at the beginning of the year, but now...

1 - 20 of 33 Posts

Armi

· #2 · Nov 22, 2009

I hate this...

You get your salary back once AMD starts owning Intel

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Tator Tot

· #3 · Nov 22, 2009

Quote:

Kay said that "in the scheme of things, the dough is small potatoes, but in this climate, everything of this sort gets scrutinized much more closely than it otherwise would."

That kinda sums up my thoughts on it.

Besides, these guys have been the ones pulling AMD from beyond the grave. I won't lie, they've all made some very smart moves to help this company out.

In my opinion though, as leaders of the company, I would have tried to re-invest that money into the company, instead of into my wallet. As AMD doesn't have the Cash flow that Intel does, all the penies that could be put towards their efforts I would contribute.
But again, that's just my opinion. It might not be so easy to work things like that.

Weedvender

· #4 · Nov 22, 2009

Well its their company. Let them do what they want.
How many engineers make close to a million dollars, I'd like to be one.

pheoxs

· #5 · Nov 22, 2009

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Originally Posted by Weedvender

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Well its their company. Let them do what they want.
How many engineers make close to a million dollars, I'd like to be one.

Working as a engineer, average for a high ranked engineer is around 3-400 K, very very few engineers make close to a million dollars. Those are top ranking exectutive offers and chiefs of finance, etc, not engineers.

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sLowEnd

· #6 · Nov 22, 2009

Well, I hope they don't get complacent after getting their salaries back.

Craiga35

· #7 · Nov 22, 2009

Quote:

Originally Posted by pheoxs

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Working as a engineer, average for a high ranked engineer is around 3-400 K, very very few engineers make close to a million dollars. Those are top ranking exectutive offers and chiefs of finance, etc, not engineers.

I don't know about you but I'd be very happy making 300-400K a year.

OT: I think they should've kept their salaries where they were and put that money into R&D. I mean seriously is making $720,000 instead of $900,000 a year really hurting you in any way? I think not.

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Tator Tot

· #8 · Nov 22, 2009

2

Quote:

Originally Posted by sLowEnd

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Well, I hope they don't get complacent after getting their salaries back.

I feel the same.

Quote:

Originally Posted by Craiga35

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I don't know about you but I'd be very happy making 300-400K a year.

OT: I think they should've kept their salaries where they were and put that money into R&D. I mean seriously is making $720,000 instead of $900,000 a year really hurting you in any way? I think not.

Depends on how high maintenance your life is.

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FuNkDrSpOt

· #9 · Nov 22, 2009

Quote:

Originally Posted by Craiga35

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I don't know about you but I'd be very happy making 300-400K a year.

OT: I think they should've kept their salaries where they were and put that money into R&D. I mean seriously is making $720,000 instead of $900,000 a year really hurting you in any way? I think not.

So they were great employees and took paycuts to stay at a company that was sagging in order to get it up to par and they should make those paycuts permanent?!

Do you know how quickly those people would leave?

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AMD_Brewer

· #10 · Nov 22, 2009

Quote:

Originally Posted by FuNkDrSpOt

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So they were great employees and took paycuts to stay at a company that was sagging in order to get it up to par and they should make those paycuts permanent?!

Do you know how quickly those people would leave?

^this.

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Lombax

· #11 · Nov 22, 2009

If these people are the reason AMD is making more $$$, they deserve it. But if not then give it to the people who are making AMD money, (ATI branch)

dieanotherday

· #12 · Nov 22, 2009

so that's what they call a bonus now?

a "reverse salary cut"?

grmnasasin0227

· #13 · Nov 22, 2009

Quote:

Originally Posted by Tator Tot

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I feel the same.

Depends on how high maintenance your wife is.

Fix'd.

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waqasr

· #14 · Nov 22, 2009

...i wish i had the same pay as one of those guys

.

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lordikon

· #15 · Nov 22, 2009

I'm curious why these guys are each making over half of a million dollars per year if their company hasn't been making profit for years...

JTD92

· #16 · Nov 22, 2009

Jen Hsun Huang makes around $16 million dollars a year.....

lordikon

· #17 · Nov 22, 2009

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Originally Posted by JTD92

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Jen Hsun Huang makes around $16 24 million dollars a year.....

Also unjustified IMO. But that's capitalism, it is great and terrible at the same time.

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Frost

· #18 · Nov 22, 2009

I wish I made that much money in a year <.<

sodaholic134

· #19 · Nov 22, 2009

3

Quote:

Originally Posted by JTD92

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Jen Hsun Huang makes around $16 million dollars a year.....

But seriously, I'm not that surprised. Capitalism is capitalism.

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SilverPotato

· #20 · Nov 22, 2009

So people complain when lower level employees loose money AND when executives do? What is a company to do?

1 - 20 of 33 Posts

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