EMC Executives Are Not Suffering From the Crisis

For FY ended in December 2008, EMC’s net income fell 19% and the company announced 2,400 layoffs last January. Even if some executives of the company got less compensation for the year 2008, the figures remain enormous.

Here are the four higher total compensations
in 2008 and 2007, according to a recent SEC filing:

• Joe Tucci, chairman, president and CEO: $12,971,608 ($17,344,899 in 2007)
• Dave Goulden, executive VP and CFO: $5,128,870 ($5,830,238)
• Howard Elias, executive VP and president, global services: $6,119,720 ($5,972,021)
• Bill Teuber, vice chairman: $6,086,762 ($6,408,226)
• Dave Donatelli, executive VP and president of storage division: $5,412,528 ($5,391,193)

In 2008, Tucci got also $209,671 for personal use of the company’s aircraft, $15,000 in tax and financial planning, and $7,000 in auto allowance. His son-in-law, who worked as commercial sales district manager at EMC, earned $288,000 during the same year.