This must be the antithesis of the stories about massive executive pay packages. ITWeb has a story about Steve Jobs’ pay package at Apple. He earned $1:
[San Francisco | Reuters News Service, 16 March 2005] –
Steve Jobs, chief executive of Apple Computer,
was again paid $1 in salary and received no stock options or restricted
stock for the company’s fiscal 2004, a regulatory filing showed
yesterday. For years, Jobs,
who co-founded Cupertino, California-based Apple, has taken a salary of
$1. In March 2003, Jobs voluntarily cancelled all of his outstanding
options, excluding those granted to him in his capacity as director.
I am sure he doesn’t actually only earn $1 but this is a great story in the context of the debates surrounding huge executive pay packages.
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What do you think?