9 September, 2014
MicroStrategy CEO Reduces Pay To $1 From $875,000 Following Criticism Of Stewardship
MicroStrategy chairman and chief executive Michael Saylor reduced his annual salary from $875,000 to $1 and eliminated his annual cash bonus, the most recent in a series of management moves following criticism of his stewardship by several large investors.
The company said the change in compensation comes on the heels of recent restructuring efforts.
“Mr. Saylor believes that it is appropriate to reduce his compensation in light of the Company’s cost reduction initiatives,” Claudia Cahill, MicroStrategy’s director of public relations, said in a statement.
The changes, which will be effective Sept. 1, were outlined in a filing Tysons Corner-based MicroStrategy made Monday with the U.S. Securities and Exchange Commission.