Palm execs get raises after a year to forget…
How to put this kindly? Palm (ticker:PALM) has not exactly been setting the world on fire lately.
There was the decision to wax an ill-fated product that was widely ridiculed. And then there is the pending restructuring involving a $325 million investment from Elevation Partners which was recently approved by shareholders.
But why let a few bumps in the road get you down? What this bunch needs is a shot in the arm. And there’s no better tonic for what ails ya’ than a nice pay raise.
On Monday, Palm filed an 8-K disclosing that it had given salary bumps to two executives:
- Andrew Brown, chief financial officer, will go from an annual salary of $392,500 last year to $420,000.
- John Hartnett, senior vice president of global markets, will go from $322,500 last year to $400,000.
Just think what those raises would have been if the company hadn’t done a pratfall…
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