TECHNOLOGY - March 16, 1993
From Times Staff and Wire Reports
IBM Trims Chairman’s Pay by 17%: IBM said its chairman and chief executive, John Akers, pulled down $1.3 million last year, a 17% pay cut from 1991. A replacement search is under way for Akers. The beleaguered computer maker announced the compensation package in New York in a proxy statement prepared for its 1992 annual meeting. Akers’ incentive payout, based on International Business Machines Corp. operating results, was $375,000, a decline of 42% from 1991. Akers has not received an increase since 1990.
