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Hurray, Mike Z. Gets Rewarded!
By Mark Evans | February 29, 2008
It’s good to see it’s not all doom and gloom in Nortel Land these days - what with financial results that have made Nortel a penny-stock again, and another 2,000 job cuts.
The positive news is CEO Mike Zafirovski’s compensation package jumped 21.5% last year to a whopping $10.1-million. His stock units climbed 76%, his stock options rose 37% and his base payment nudged up to $1.29-million from $1.23-million.
Meanwhile, Joel Hackney, who was promoted to president of enterprise solutions last September, got a 21% raise to to $2.03 million.
Nortel’s compensation information can be found in the company’s recently-filed proxy circular.
Source: Ottawa Citizen
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Topics: Executive Suite, Financials |