Pay plummets for Motorola co-CEOs

15.03.2010

As a company, Motorola's revenue fell 27% in its fiscal year ended Dec. 31. However, the company narrowed its losses significantly. Motorola reported a net loss of $51 million on revenue of $22 billion in 2009. In 2008, the company reported a net loss of $4.2 billion on revenue of $30.1 billion.

In its 2009 proxy statement, published a year ago, Motorola defended the more than $100 million in equity-based incentives it used to attract Jha to the company.

"Attracting Dr. Jha from his position at another public company [Qualcomm] required both guaranteeing certain elements of compensation and also providing inducements to take on the additional risk of leading a turnaround. We believe Dr. Jha is one of the very few industry leaders with the qualifications to lead our Mobile Devices business during its turnaround," Motorola said in its 2009 proxy statement.

Total pay for Jha and Brown is calculated using data supplied in a proxy statement filed with the SEC on March 12. The following figures are taken from the summary compensation table: salary, bonus, non-equity incentive plan compensation, nonqualified compensation earnings and all other compensation (perks). Added to those figures is the estimated value of stock options and awards granted during the year; that figure is taken from the table that summarizes grants of plan-based awards. The calculations don't include changes in the value of pension benefits or changes in retention plan value.

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