New AMD CEO Gets $1 Million Base Salary
AMD revealed that it will paying its new CEO Rory Read a base salary of $1 million, the highest base salary for an AMD CEO in the company's history.
Read's predecessors Dirk Meyer and Hector Ruiz had a base of $950,000 each, plus the usual bonuses. Jerry Sanders left the daily business of AMD in 2002 with a salary of $916,000 (but may have earned more during certain years - for example, he reportedly earned $1.04 million in 1996, which may have included some bonuses).
Read also received a $1 million sign-on bonus, half of which he has to repay if he leaves AMD within the next 2 years. He is eligible for up to 150 percent bonus of his base salary as well as the common incentive programs. During a conference call with media and analysts, Read mentioned that the pay was not the reason why he is joining AMD, but rather the "exciting" opportunity. Referring to his salary, he noted that he held a great job before AMD at Lenovo as president and COO. However, we believe that the pay isn't a downside of this job either.
Read more about Read's hiring here.
Good luck attracting the kind of talent required to run a complex business like AMD with a base salary of 100K. Idiot.
Buying Hp's line would be a disaster since it would make AMD a direct competitor with Dell, Lenova, Apple, Asus, Acer, etc..... That would be about as smart as 3DFX making its own chipset.
New CEO be smart, buy the HP PC Line they are selling it.
this could do you well in the OEM market where intel holds supremacy.
Not that I do not like intel. I have may intel products,. I would just like to keep the compition is check.
Buying Hp's line would be a disaster since it would make AMD a direct competitor with Dell, Lenova, Apple, Asus, Acer, etc..... That would be about as smart as 3DFX making its own chipset.
Ummm, the purchasing power of the dollar has fallen over 30% in the past 3 years. So yes, that is not such a great salary.
http://youtu.be/HMJj7_wc8YY
if you put 1 million into stocks, at about a 7% interest rate a year, which is about what stocks yield at minimum if you don't suck at playing the market, thats 70k on the interest alone. you could theoretically live your entire life off 1 million $ alone.
yea, but tell me, what to most of those lines put into their own pcs? it sure as hell isnt intel.
what amd could do with the hp line, is use it as a platform to get amd out there. build monster systems, but don't sell it to make a profit, sell it to break even with a minimal profit. this way you are putting out pcs that are of amassing quality, but also cheap, and can get some bran recondition beyond the ati gpus.
it could be a good move, than when the brand recondition is up, sell off the pc devision for a sizable profit, as the pc was just to get brad recondition up, not to pull in the profit, though selling it off for more is a nice bouns.
It's not envy, it's disgust. He should a 100K base and the rest performance based.
Good luck attracting the kind of talent required to run a complex business like AMD with a base salary of 100K. Idiot.
I guess you've not worked under many CEOs. Many of them run the company into the ground and get paid big bucks for it. If they are truly talented, then I don't have a problem with them making big bucks, but they should get paid for results. I realize it's its not really setup that way; the system is already hosed.
Sarcasm sure fits ignorance real well...
damn, how much you make bro?
That is a GREAT salary, that is a LOT more than I make, and I would not mind making that much, I guarantee you everyone else here wouldn't mind it either!
I do agree that there is massive inflation though.
For a guy who doesn't know how works a transistor!
The value of a company like AMD comes from the designers and engineers who create its products!
Rory Read will be for nothing if Buldozer is a great success,
but he will get the $:
"150% of base salary plus incentive..."
(250euro/$ a month X 12 = 3000)
Remember multiple cores can do more at the same time so can more Ceo's lol.
Like some guys above me already responded get payed more if you book results, that's a great idea.
Unless ofcourse this guy owns a lot of shares of AMD himself already
Man, this guys are the gladiators of our time, victory or death, i hope he succeeds!