Computer Associates executives, once severely criticised for a combined compensation package worth more than US$1 billion, received only their base pay for the past year during which its stock price fell and its income statement sagged, according to documents.
The executives, the target of a campaign to oust them from control of the world's No. 4 software maker, received salaries of up to US$1 million with no bonuses, reversing several years of heady gains.
In the preliminary proxy statement -- the agenda for the company's annual shareholders meeting -- filed with the Securities and Exchange Commission, the company also asks shareholders not to vote for a slate of candidates for the board nominated by Texas billionaire Sam Wyly.
Wyly is waging a battle to oust the company's board and its leadership, whom he says has allowed CA's share price to languish. He also accuses chairman Charles Wang and CEO Sanjay Kumar of creating a corporate culture that has mistreated employees and customers alike.
For fiscal year 2001, which ended March 31, Wang took home a salary of US$1 million, Kumar US$900,000 and executive VP Russell Artzt US$750,000 - flat compared with the previous two years. Each of the three also received relatively small compensation for benefits and travel worth less than US$31,000.
