He goes on about market rates but he takes the highest pay in our state.
The performance is down hill.
And overall he has no comment.
How he gets away with it in broad daylight is amazing.
Virginia’s most highly compensated CEO in 2021 was Michael J. Salvino of DXC Technology Co. in Ashburn, a Fortune 500 information technology services and consulting company. His pay totaled $28.716 million, a 32% jump over 2020, when he earned $21.733 million.
That compensation bump doesn’t necessarily correlate with the company’s financial performance, however. DXC posted $16.265 billion in 2022 revenue, down 8.26% from 2021, when it reported $17.729 billion. That, in turn, was 9.44% less than the $19.577 billion DXC reported in 2020. The company’s stock was trading at $26.60 in early September, down from a high of $96.75 per share in 2018.
DXC declined comment for this story. Salvino, who is also DXC’s chairman and president, has told investors that DXC has been going through a multiyear “transformation journey” to become better focused and more cost-effective. In earnings calls this year, the company said it missed some revenue goals after encountering unexpected costs and other disruptions associated with Russia’s invasion of Ukraine, which prompted DXC to withdraw business from Russia.
In August, the company posted first quarter 2023 earnings of $3.71 billion, down 10.5% from the same period a year ago. “Our transformation journey is creating value and we are confident that we are taking the right steps for DXC in the short term that will set us up for success in the long term,” Salvino said in a statement at the time.