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Steve Ballmer had his bonus cut due to Kin failure

Posted on Friday, October 01 2010 @ 13:26:20 CEST by


Microsoft had a record year with the company's highest ever revenue, but despite this CEO Steve Ballmer did not receive his complete bonus for the fiscal year due to the failure of the Kin.
54 year old Ballmer took a bonus hit due to the "unsuccessful launch of the Kin phone, loss of market share in the company's mobile phone business, and the need for the company to pursue innovations to take advantage of new form factors," according to a filing with securities regulators on Thursday.

The filing, reported by Reuters, shows that Ballmer received a cash bonus of $670,000 for the fiscal year ended June 30. Although the bonus is equal to Ballmer's salary, it's only half the maximum bonus payout. The revelation of a curbed bonus comes after a record year for Microsoft increased sales of Windows and Office thanks to two successful new product launches.
More details at NeoWin.




 



 

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