SiliconBeat

It appears that the job of leading JDS Uniphase is slightly less valuable on a cash basis these days. The new chief executive as of Jan. 1, Thomas Waechter, will be paid $700,000 a year in salary, $100,000 less than the current CEO, Kevin Kennedy, according to a regulatory filing Thursday. Waechter, who joined the company a year ago in October, is currently an executive vice president in charge of JDS’s communications test & measurement group.

Kennedy, who told the company in October he would be resigning, isn’t going far. Like so many executives, he’ll be retained as a consultant for awhile, and he’ll continue Read the rest of this entry »

JDS Uniphase revealed that it will pay Kevin Kennedy, its departing chief executive, a $400,000 bonus within seven days after he leaves on Dec. 31. That was the minimum bonus guaranteed him, no matter what the performance of the company was that year.

Kennedy, who informed the company in October of his plan to step down, will also be paid 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 »