By Peter Lavelle
Tuesday 9 March 11:39 GMT
Xerox CEO Ursula Burns is to receive a $200k pay increase. From April, her $900k basic salary will increase to $1.1m. This is according to paperwork filed at the US Securities and Exchange Commission. According to the trustees compensation committee at Xerox, the raise reflects Burns’ “increased scope of responsibility.”
The $200k raise is the first increase in Burns’ basic salary since becoming Xerox CEO in July last year. Since then, Burns has overseen the $6.4bn takeover of ACS (Affiliated Computer Services) by Xerox. The takeover is perceived as an attempt to move Xerox upmarket. ACS specialise in business process outsourcing, while Xerox are famed as copier manufacturers.
Aside from the ACS takeover, Burns concedes her accomplishments to date are negligible. Last month she said: “The accolades I get for doing absolutely nothing are amazing – I’ve been named to every list, literally, since I became CEO. What have I done? In the first 30 days, I was named to a list of the most impressive XYZ. The accolades are good for five minutes, but then it takes kind of a shine off the real story. The real story is not Ursula Burns. I just happen to be the person standing up at this point representing Xerox.”
As President in 2008 Burns received a $550k bonus in addition to her $900k salary. She also received around $4m in shares, according to the SEC.
Sources
Adam Byrant, ‘Xerox’s New Chief Tries to Redefine Its Culture,’ NYTimes.com, 20 February 2010.
Anonymous, ‘Xerox’s Burns Receives Raise,’ DemocratAndChronicle.com, 9 March 2010.
Matthew Daneman, ‘Xerox CEO Ursula Burns Is Getting A Raise,’ RocNow.com, 8 March 2010.
Tuesday 9 March 11:39 GMT
Xerox CEO Ursula Burns is to receive a $200k pay increase. From April, her $900k basic salary will increase to $1.1m. This is according to paperwork filed at the US Securities and Exchange Commission. According to the trustees compensation committee at Xerox, the raise reflects Burns’ “increased scope of responsibility.”
The $200k raise is the first increase in Burns’ basic salary since becoming Xerox CEO in July last year. Since then, Burns has overseen the $6.4bn takeover of ACS (Affiliated Computer Services) by Xerox. The takeover is perceived as an attempt to move Xerox upmarket. ACS specialise in business process outsourcing, while Xerox are famed as copier manufacturers.
Aside from the ACS takeover, Burns concedes her accomplishments to date are negligible. Last month she said: “The accolades I get for doing absolutely nothing are amazing – I’ve been named to every list, literally, since I became CEO. What have I done? In the first 30 days, I was named to a list of the most impressive XYZ. The accolades are good for five minutes, but then it takes kind of a shine off the real story. The real story is not Ursula Burns. I just happen to be the person standing up at this point representing Xerox.”
As President in 2008 Burns received a $550k bonus in addition to her $900k salary. She also received around $4m in shares, according to the SEC.
Sources
Adam Byrant, ‘Xerox’s New Chief Tries to Redefine Its Culture,’ NYTimes.com, 20 February 2010.
Anonymous, ‘Xerox’s Burns Receives Raise,’ DemocratAndChronicle.com, 9 March 2010.
Matthew Daneman, ‘Xerox CEO Ursula Burns Is Getting A Raise,’ RocNow.com, 8 March 2010.
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