This Week
  • Architect David Hanlon has worked with some of the area's leading developers.

  • For startup companies, legal and accounting missteps can prove costly.

  • Wilmorite hopes soon to win approval for $425M casino in Seneca County.

  • ID Signsystems Inc. has grown from a local company into an international business.

  • Robert Linton guides Jazz 90.1 through a new era in media.

  • The RBJ 75 supplement presents a list of the 75 largest private-sector employers.

Total compensation declines for Burns, other Xerox execs

Rochester Business Journal
April 7, 2014

Xerox Corp.’s top executives saw a year-over-year drop in annual total compensation, a filing with the Securities & Exchange Commission shows.

Affecting the company leaders’ salaries last year was a cost-cutting measure that distributed stock awards in January instead of last July, the month the annual awards are typically handed out.

The following list of executives’ 2013 compensation includes the stock awards made on Jan. 1, 2014.

Chairman and CEO Ursula Burns reported total compensation of $10.2 million in 2013, down from $13.07 million in 2012. Included in the total compensation was a base salary of $1.1 million—flat with 2012—along with $1.3 million in non-equity incentive plan compensation and $67,000 in other compensation. Stock awards totaled $7.75 million on Jan. 1.

Lynn Blodgett, executive vice president, received total compensation of $7.3 million in 2013, down from total compensation of $7.6 million in 2012. His total compensation in 2013 was a base salary of $850,000, $408,000 in non-equity incentive plan compensation and $3.03 million in other compensation. His stock awards received totaled $3 million.

Blodgett, who was Xerox’s services business president until this month, plans to retire from the company at year-end.

Armando Zagalo de Lima, executive vice president and president of Xerox technology, received total compensation in 2013 of $5.6 million, down from $7.06 million in 2012. Included in 2013 was a salary of $717,000, $429,959 in non-equity incentive plan compensation, $538,000 in all other compensation and $2.5 million in stock awards on Jan. 1.

James Firestone, executive vice president and president of corporate strategy and Asian operations, had total compensation of $3.2 million in 2013, down from $5 million in 2012. Included in last year’s compensation was a salary of $714,000, $428,400 in non-equity incentive plan compensation, $64,000 in all other compensation and $2 million in stock awards.

Kathryn Mikells, executive vice president and chief financial officer, received total compensation of $5.05 million in 2013. That number included a salary of nearly $467,000 and $302,000 in other compensation. Stock awards totaled $3.7 million, with $1.2 million received in 2013 and $2.5 million received on Jan. 1.

Mikells became chief financial officer last May replacing Leslie Varon, who served as interim for two months. Luca Maestri served as CFO previously.

The salaries were part of the annual proxy filing that announced Xerox’s annual meeting is scheduled for May 20 at its headquarters in Norwalk, Conn.

At the meeting, shareholders will be asked to vote on the election of 10 directors, the ratification of the selection of PricewaterhouseCoopers LLP as its independent registered public accounting firm for 2014 and the approval, on an advisory basis, of the 2013 compensation of its named executive officers.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 






What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google