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AMD approves CEO Ruiz's salary increase

AMD approves CEO Ruiz's salary increase

On Thursday last week, AMD boss Hector Ruiz spent most of his day apologizing to analysts and investors for the bad financial year and playing down the group's lack of liquidity. A salary increase for Ruiz became known only a little later.

It is obvious what irritation this process caused. The performance of the chip manufacturer left a lot to be desired this year - instead of catching up with Intel, the gap has grown even wider. The group's lack of funds became so serious that it even had to resort to third-party financing.

Against this background Ruiz then found it difficult to gain anything positive from the situation on Thursday. The only glimmer of hope is the prognosis that the valley of tears has now been passed and that things will go uphill from 2008 onwards.

These declarations of salvation on the one hand and the salary increase that has now become known on the other paint a bizarre picture. While AMD stock has lost up to 55 percent over time in a high-low comparison, AMD approves its CEO for a seven percent pay increase for the new year. While Ruiz earned around $ 1,046,358 (excluding compensation) in 2006, it will be $ 1,124,000 next year. This means that Ruiz is once again the best-paid CEO in the semiconductor industry .

Update December 17, 2007 10:50 pm

As has meanwhile turned out, The information about the increase in Ruiz's salary relates to the year 2006, in which he earned at times $ 950,000 and $ 1,124,000. The information given above about a temporally unfavorable salary increase is simply wrong. AMD CEO Hector Ruiz's salary has only increased by $ 24,000 since last year, but this is due to a different accounting treatment of a caris based. Our colleagues at news.com have therefore updated their original report based on a call from AMD.

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