Adobe CEO gets pay package of $5.2 million in 2009, down 68 percentBy AP
Friday, March 12, 2010
Adobe CEO 2009 pay package down 68 percent
SAN JOSE, Calif. — The Associated Press has found that Adobe Systems CEO’s compensation for fiscal 2009 fell 68 percent, as the recession dampened demand for the company’s software products.
Shantanu Narayen, who also serves as president, received a pay package valued at $5.2 million, down from $16.4 million a year earlier.
Adobe had posted a 56 percent decline in its 2009 earnings, and its revenue dropped 18 percent. It also reduced its work force by about 1,300 employees in the fiscal year ended in November.
The AP’s executive pay calculation, based on a regulatory filing, aims to isolate the value the company’s board placed on the CEO’s total compensation package. The figure includes salary, bonus, incentives, perks and the estimated value of stock options and awards.
Tags: California, North America, Personnel, San Jose, United States