Mar 24, 2009 - 1520 days ago
Applied Materials cuts board retainer by 20 percent
In case you missed it, Applied Materials of Santa Clara, the world’s biggest manufacturer of equipment used to make computer chips, has trimmed its board members’ pay again in light of the dismal economy.
Following on its decision in December to cut the annual cash retainer of its non-employee directors by 10 percent, Applied recently reduced the retainer by another 10 percent.
For those of you counting, that whittles the board member’s individual retainer from $65,000 to $52,000. Applied also has slashed 20 percent from the base salaries of its senior executives.
