He was also Virginia’s highest-paid CEO in 2021, earning more than $28.7 million, a 32% jump over the previous year. But that pay has gone up while the company’s revenue has decreased. DXC posted $16.265 billion in 2022 revenue; it reported $17.729 billion in 2021. In February, the company reported $3.57 billion in revenue for the third quarter of fiscal 2023, down 12.8%, compared with the prior year period.
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Did rest of the exec crew got rises as well?
The SEC ruling confirms what we all suspected, that Mike Salvino (M$) and his appointed cronies are duplicitous, as much as incompetent. Add greed to the list too. What baffles me is why investor representatives haven't waded in with more searching questions and analysis at the various earnings calls over the years.
If you take look at the stock history (e.g. https://marketchameleon.com/Overview/DXC/StockChart/FiveYear?tech=volume), since M$ took over as CEO in September 2019, the price has fallen from over $90 to below $24.
Any worthy analyst should be challenging the CEO for this level of stock slide, let alone one who's awarded himself a 30% increase in salary in the last year alone.
The man is nefarious. Investors should be demanding a change of leadership.
its amusing his pay rises exactly reflect the size of revenue and stock price shrinkage - inverse of one another
so 2 years after he declined a $10B buy out offer, and after a few billion in share buy backs in the meantime, DXC is worth $5.3B approx 40% lower than when Mr Shouty started (do we now call him Mr Silence these days or the "Invisible Man")
Outstanding results - well worth the 40% a year pay rises
The turnover is most likely there. It is just that Slavino has taken most of it for himself and his a**e lickers and then declared a lower figure.
Highest paid CEO in Virginia with a 32% pay rise.
Total hypocritical telling others there no money for raises and cutting everything except himself.
Total failure dropping turnover massively, how can he reward himself for failure?