Informix chief executive Phil White appears to be eating financial humble pie following the company's appalling first quarter results, taking an effective pay cut in 1996 of over 40 per cent.
According to the company's Salary Compensation Table, White took home $821,667 in 1995, excluding share options - made up of a basic salary of $421,667 topped up with a $400,000 bonus. But for 1996, White took home a basic of $461,667, but no bonus.
In contrast, Ken Coulter, worldwide head of field operations, saw his salary rise. Coulter, who was in charge of European operations until the start of this year, took home a 1995 total of $421,202 excluding share options, made up of $227,100 basic salary and a $194,102 bonus. In 1996, his salary rose to $458,220 through a basic of $283,235 and a bonus of $174,985.
Last week the company announced first quarter losses of $140.1 million on revenues of $133.7 million. The supplier is not expected to break even until the fourth quarter at the earliest.
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