IBM (NYSE: IBM), which is transforming itself under chair and CEO Ginni Rometty, is awarding the boss a $4.5 million performance bonus even though the company has seen revenue decline for 15 consecutive quarters. Part of Rometty’s efforts now include the buying of a digital ad agency.
Business news site Seeking Alpha reported the Rometty bonus as did The Wall Street Journal.
“Rometty’s total earnings for the year won’t be clear until IBM discloses the value of certain equity grants, but her bonus was $900K more than the $3.6M she earned last year,” the website said.
“Her base pay for 2016 remains unchanged at $1.6M, with $13.3M in long-term incentive stock awards.”
The news comes as IBM reportedly is going to launch a new round of layoffs and cut severance pay packages for workers to one month from a maximum of six months.
Read more at:
http://seekingalpha.com/news/3064906-ibm-ceo-rometty-gets-big-bonus-boost
IBM employs several thousand people across North Carolina.
- Digital agency buy
Under Rometty, IBM has sold off some traditional businesses such as semiconductors and its x86 server business (to Lenovo) while investing heavily in cloud-related investments and acquisitions.
IBM’s latest buy is a 330-employee, $75 million digital marketing agency based in Columbus, Ohio. The deal was announced Thursday. Terms weren’t disclosed.
Resource/Ammirati’s founder and chairman Nancy Kramer announced the news at a company gathering in Columbus.
“They are interested our creativity, our entrepreneurial spirit, independent mindset,” Kramer told Columbus Business First. “This is about growth. This is a high-growth area of IBM.”
Read more at:
http://www.bizjournals.com/columbus/blog/2016/01/nancy-kramer-resource-ammirati-keeping-its-name.html
