Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Last year was a good one for $31 billion Motorola Inc. and its shareholders, but an even better one for its CFO, David Devonshire. The communications equipment company rebounded from a string of lackluster years, with a 72% spike in 2004 net income on a 35% rise in revenues. Shareholders willing to hang on saw returns climb 24%, even before dividends were added in. As impressive as those numbers are, they pale compared to the 127% surge in the value of Devonshire’s total compensation package, to $8.7 million for the year. Much of Devonshire’s good fortune–more than half, in fact, according to the company’s proxy–came down to Motorola’s improved stock price, which traded around $8 at the time his 2003 grant was set, versus a price of more than $16 a year later, when he received only a slightly higher number of options.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.