MOLX » Topics » FY08 Compensation Decisions

This excerpt taken from the MOLX DEF 14A filed Sep 12, 2008.
FY08 Compensation Decisions
 
As previously noted, the Committee selected year-over-year growth in operating income as the performance measure for the FY08 annual bonus. The Committee approved individual performance goals at the beginning of FY08 for the CEO, and the Committee and the CEO approved performance goals for the other executive officers. The CEO’s individual performance goal areas included: year-over-year improvement in operating performance for each of the divisions; strengthening Molex’s global compliance and ethics program; increased stakeholder contact; talent development and effective succession planning; and revenue growth through acquisitions and strategic alliances.
 
In August 2008, the Committee and the Co-Chairman of the Board conducted an evaluation of the performance of the CEO, and the Committee and the CEO conducted an evaluation of the performance of the other executive officers during FY08 against pre-established goals. Based upon these evaluations, decisions were made regarding salary increases and annual bonuses. The Named Executive Officers received salary increases ranging from 3.5% to 4% effective September 1, 2008. We did not have any improvement in operating income in FY08 and the executive officers, including the Named Executive Officers, did not receive an annual bonus.
 
In keeping with our philosophy of aligning management and stockholder interests and considering the future contributions expected of the executive officers, the Committee granted on August 15, 2007, long-term incentive awards to each executive officer. See the “Grants of Plan-Based Awards Table” for the equity granted to the Named Executive Officers in FY08.
 
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki