By Graham Hayday, 1 October 2001 08:25
NEWS Scott McNealy, Sun's outspoken CEO, has suffered his own personal disaster in the high-tech slump: his income has dropped by $2.5m over the last year. However, he's hardly short of a penny or two. His total payments from Sun fell from a massive $4.87m in fiscal 2000 to a hardly insignificant $2.33m in fiscal 2001. Most of the decrease was because his $100,000 salary wasn't supplemented with a bonus this year, according to U.S. Securities and Exchange Commission documents that Sun filed last Friday. According to US reports, the reasons for the lack of bonus included revenue growth of just 16 per cent and earnings of 42 cents per share for fiscal 2001, compared with growth of 33 percent and earnings of 55 cents a share in 2000. But McNealy isn't alone. Larry Ellison has seen his personal worth decrease by over $25bn in the past year, and it may be some consolation for McNealy that no other Sun executives or employees received bonuses this year either.
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