Electronics Production | July 31, 2006
Big Bonuses for Flextronics Bosses
Flextronics International Ltd. Ex-CEO Michael E. Marks got a $7.4 million bonus for the fiscal year ended March 31.
Marks also received a lump-sum payment of $1.6 million made on July 3. Marks further realized $5.5 million from the exercise of stock options during the latest fiscal year. For fiscal 2006, new Flextronics CEO Michael M. McNamara, received an annual salary of $850,000 plus a bonus of $1.1 million. Effective January 1, Flextronics increased McNamara's annual base salary to $1 million from $750,000. McNamara also received options to purchase 3 million shares during fiscal 2006.