IBM Almost Doubles New CEO Rometty’s Salary to $1.5 Million
February 06, 2012, 2:52 AM ESTBy Ville Heiskanen
(Updates with closing share price in last paragraph.)
Feb. 3 (Bloomberg) -- International Business Machines Corp. almost doubled the salary of Virginia “Ginni” Rometty after promoting her as the chief executive officer of the world’s largest computer-services provider at the start of the year.
Rometty, 54, will receive a salary of $1.5 million this year, up from $800,000 last year, the Armonk, New York-based company said today in a regulatory filing. Her cash-incentive target for 2012 is $3.5 million, compared with $1.47 million she received for 2011.
Rometty become the first female CEO in the company’s 100- year history. She inherits a five-year plan that includes boosting software to half of IBM’s earnings, with a focus on programs that help businesses analyze and project trends, as well as on cloud computing and emerging markets.
Rometty’s predecessor, Samuel Palmisano, got a bonus of $6.5 million for 2011, IBM said.
IBM rose 1.1 percent to $193.64 at the close in New York. The shares reached a record in 2011 and advanced 25 percent for the year.
--Editors: Romaine Bostick, Ville Heiskanen
To contact the reporter on this story: Ville Heiskanen in New York at vheiskanen@bloomberg.net
To contact the editor responsible for this story: Ville Heiskanen at vheiskanen@bloomberg.net
