https://www.crn.com/news/managed-services/dxc-shareholders-reject-executive-compensation
Major institutional shareholders are fed up and sell!
https://money.cnn.com/quote/shareholders/shareholders.html?symb=DXC&subView=institutional
8 replies (most recent on top)
Someone seriously suggested a > 60% pay increase for that psychopath Salvino? Based on what criteria? If I asked for a 5% raise, I'm pretty sure someone would expect me to pony up some tangible demonstration of the value that I was bringing to the company (other than extreme handsomeness). Under his watch, the company continues to plummet into disaster. I bet most dr-g dealing gangsters have more honesty, integrity, and social empathy than that shark-eyed lunatic.
Digital Transformation what a crock of Sh*t. Modern computers have been digital for 40+ years. It's process transformation that also has been going on since I entered the business 47 years ago. Nothing has really changed and everything has changed. When we start selling (and supporting) goods and services that support the business of our customers then we'll make money.
The current management crop are carpetbaggers - just like the crew that preceded them. Around year four of the current CEO’s five year plan, another will take his place and announce yet another five year plan to “fix” the company.
Unfortunately same old same old pattern for Wall Street listed companies and in the same breath UK and European listed companies on their stock markets - the CEO, board don't need to be any good, they have short term view of things to cut and sell to boost their own pockets.
There's no control or accountability at all - has always been like this in CSC under Lawrie's disastrous leadership and then in DXC and Sal is seems like a spin off in the same vein as Lawrie.
This just beggars belief and is totally immoral.
Awards should only be given for good results and arguably the execs should be penalised (or stock options withheld) when the performance is well below par, as it is now.
Is this request some lame attempt at blackmail: 'Pay me more or I'll leave this mess to someone else?' Yeah, give it to my dog, at least he'll do a better job and won't sh1t on everyone!
Will be interesting to see what happens as that was a non binding vote, strictly advisory.
Wonder if they will have the brass neck to ignore it...
@xpd+1cB4nssi - Jeez... $13m was never warranted, so how could even he ask for $21m as compensation for worse results? - What a W-nk-r...
https://www.crn.com/slide-shows/storage/dxc-technology-s-most-highly-compensated-executives-in-2021/6
Michael Salvino, President and Chief Executive Officer
Total FY21 Compensation: $21,733,120
Total FY20 Compensation: $13,320,505