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Adobe CEO pay reduced by 68 percent
Bombay News.Net
Saturday 13th March, 2010
The president and CEO of software maker Adobe Systems, Shantanu Narayen, has been awarded less compensation this year due to a decline in the value of the company.
Mr Narayen was awarded compensation valued at $5.2 million in the 2009 fiscal year, a 68 percent decline in the recessionary year.
He received a base salary of $875,000 for the fiscal year ended Nov. 27, 2009, according to the Securities and Exchange Commission.
The demand for Adobe products was well down in most of 2009, as Adobe's Creative Suite 4, the latest version of their Photoshop software package, was largely ignored by professional designers and developers.
With Adobe posting the decline in earnings and profits it also reduced its work force by about 1,300.
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