Kana Software, the Menlo Park supplier of customer-service software whose auditor has raised substantial doubt about (its) ability to continue as a going concern, says it decided not to give its chief executive, Michael Fields, a raise over the last two years. Instead it starting paying his rent, according to the company proxy file today.
Fields, who became chief executive in 2005, was paid Read the rest of this entry »
Spansion, the Sunnyvale flash memory maker that gave its executives a retention-based pay raise in February the same day it fired 3,000 workers, said this week that one of those raises doesn’t seem to have had the desired effect.
The company revealed in a regulatory filing Thursday that one of the recipients of those executive retention pay raises quit a week ago. Dario Sacomani (pictured), the company’s now former chief financial officer, resigned April 10, when he and Spansion entered into a “Personal Leave Agreement” under which Read the rest of this entry »
Less than two years after a policy was approved to reimburse him for the use of his private aircraft on business trips, JDS Uniphase Chief Executive Kevin Kennedy sold his plane, according to the company’s proxy issued in advance of its Nov. 12 annual meeting.
The audit committee of the company’s board of directors approved the policy in June 2006. The policy limited the reimbursement to $2,100 per flight hour plus a 12.5% fuel surcharge rate. The policy limited the amount of reimbursement to $800,000 per year. The rates were established “following review of fair market rates applicable to the rental and use of similar aircraft.”
We could find no Read the rest of this entry »
It seems likely that whoever is elected president a week from tomorrow, there are some changes in store regarding the growing issue of health care — how to provide it to larger numbers and how to pay for it.
It’s a safe bet that the per capita costs will end up being less than what two directors on the board at Maxim Integrated Products cost in premiums for medical insurance coverage paid for by that company, according to a proxy filed with the SEC for its annual shareholder meeting held today.
Maxim offers medical insurance coverage to those board members who ask for it, which Bergman did last year. Cost to Maxim: Read the rest of this entry »
It’s official: Cisco’s chief executive, John Chambers, is now a member of Silicon Valley’s jet set. In fact, it’s a requirement.
Last month, Cisco’s board “adopted a travel policy” under which Chambers “is generally required to utilize a private airplane for business travel because his responsibilities on behalf of Cisco entail substantial national and international travel.” (But that’s nothing new, right?)
To help Chambers comply with the new ruling, Cisco will Read the rest of this entry »
When LSI purchased Agere Systems in 2007, it agreed to maintain roughly the same benefits to former Agere executive for a period of two years with a plan to have a unified perquisite program for all executive officers in 2009.
However, last week LSI agreed to extend special benefits for an additional year for one former Agere executive, Andrew Micallef, who now serves as LSI’s executive vice president in charge of worldwide manufacturing, according to a filing today with the SEC. The benefits are related to his location in Singapore and are “intended to allow individuals receiving its benefits to work in a country other than their home country and experience a similar standard of living to what they could experience in their home country.”
What does that entail? For Micallef, the extra benefits include: Read the rest of this entry »
The board at Echelon, the San Jose appliance networking company, voted to change the way it pays for Chief Executive Ken Oshman’s travel on his personal jet, according to a filing the company made with the SEC Tuesday.
Had the new arrangement been in place since the beginning of the year, Read the rest of this entry »
As readers of Docu-Drama already know, executive relocations don’t come cheap. Read the rest of this entry »
It looks like four years into the job, LSI’s chief executive, Abhijit Talwalkar still isn’t sure he wants it. How else to explain the company’s second extension of an originally two-year agreement with Talwalkar to pay him $5,000 a month for housing and tens of thousands a year to pay for his commute between Oregon and the Bay Area. Read the rest of this entry »
The board of directors at Marvell Technology Group felt it necessary to set down in writing a policy governing the use of its evidently new corporate aircraft. The policy, established May 21, retroactively approved the personal use of the jet back in February by the company’s chief executive, Sehat Sutardja, whose wife and Marvell’s director of business development, Weili Dai, went with him on the flight. Read the rest of this entry »
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