Amidst all that turmoil, SCO CEO Darl McBride still managed to pull in a very decent amount of money from his employer.
According to a SEC Schedule 14A filing made by SCO, McBride in 2007 pulled in a base salary, bonus and options totalling $571,220.
The actual mix of base salary, options and bonuses is an interesting study in compensation.
The Company did not adjust the base salary for the Chief Executive Officer as a result of our cash constraints. Consequently, the base salary for Darl McBride, our Chief Executive Officer, remained unchanged at $265,000 for the fiscal year ended October 31, 2007.
In addition to the base salary, SCO somehow decided that even though their firm lost money, McBride was ‘bonus’ material too.
Mr. McBride received bonus payments of $144,691 for the year ended October 31, 2007 as a result of the attainment of personal management performance objectives, which included, but were not limited to establishing new business channels and partnerships for mobile technologies, launching new digital mobile services, and leading our operations to preserve and maximize cash resources.
So for all you kids out there,maybe there is a lesson here. Perhaps you too can grow up to earn a very respectable living leading a company down the path of destruction into bankruptcy.
