RIM “CEOs” Jim Balsillie and Mike Lazaridis said yesterday that they had requested to change their salary to $1 per year, which is something, I say, they should have done years ago.
RIM is increasingly in trouble and appears headed for more, and the two CEOs have done nothing but appear out of touch with reality in almost every move they make.
As benevolent as the gesture seems, like much else that comes out the mouths of the RIM CEOs, this move lacks any meaning as well. According to CNET:
Last year, Balsillie and Lazaridis both earned salaries of $1.2 million…But that figure only accounted for 23 percent of their total compensation, which also included restricted stock, compensation from an annual incentive plan, special awards, retirement pension savings, and other items. Their total compensation was $5.1 million each.
In fact, the two are just the latest in a long line of high-profile CEOs that have taken the token $1 salary, only to receive a lot more in other compensation
More of the same from the doomed RIM and its CEOs.
Source: CNET.
