Two more executives are being shown the door at chip maker Advanced Micro Devices – but two others will be getting juicy bonuses. This morning after Wall Street opened, AMD filed an 8K form with the Securities and Exchange Commission that said Robert Rivet left AMD on February 8. Rivet joined AMD as chief financial officer in …
Exec in recession
"Emilio Ghilardi (...) is getting a bonus of $942,865. AMD said that the bonuses were tied to non-GAAP operating income (...) AMD shifted from a $112m operating loss in 2009 to a $553m operating gain in 2010".
So in 2009, everyone knew they'd take a dip due to the recession. In 2010, everyone knew that they'd start peeking their head above the wave again. And now exec get massive payouts because the obvious happened?
If they made me an exec and I did eff all but play golf all day, similar results would have happened, not due to my performance, but due to the global economy, so why pay massive bonuses? Either they are too stupid to realise the obvious, or they are opportunistic self indulging b*stards. My guess is the latter.
Top honcho has to make a few essential decisions - policy, strategy, staff. Results follow.
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