Emulex Management Gets a Raise

Emulex execs get a nice base raise in pay, not to mention bonuses

August 28, 2007

1 Min Read
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What does it take to keep you happy at your company? For the Emulex management team, it apparently takes a sizable base salary and lots of remuneration on top.

In an SEC filing today, Emulex declared new base salaries for its top five execs. And in all but one case, the raises were substantial -- at least from my perspective in the considerably lower trenches.

James M. McCluney, CEO and president, will be paid $572,450 this year, up 40 percent over his 2006 base salary. Michael J. Rockenbach, EVP and CFO, will get $229,596 this year, up 8 percent. Marshall D. Lee, EVP of engineering, will get $307,204, up 11 percent. And EVP of worldwide sales William F. Gil will get $291,005, 19 percent more than last year.

Executive chairman Paul F. Folino gets the tiniest raise: He'll make $590,527 instead of $588,150. But no worries: His bonus money in 2006 totaled $366,807. Then again, his base compensation, including salary, bonuses, and reimbursement for insurance premiums, didn't quite make a million at $973,890.

All of these guys stand to make a ton of dough in bonuses. As today's filing states: "The quarterly target award opportunity for the executives range from 35% to 90% of quarterly base."You can't say these figures aren't competitive. Archrival Qlogic's execs make similar money: For fiscal 2007, chairman and CEO H.K. Desai's base pay is stated in SEC filings as $676,934; SVP and CFO Anthony J. Massetti scores $294,643; and Denis R. Maynard, SVP of worldwide sales and marketing, is listed at $333,430.

In case you're envious, comfort yourself with this: At least your pay isn't showing up for millions to view -- and respond to with applause, hoots, or jeers. Life's tough at the top.

  • Emulex Corp. (NYSE: ELX)

  • QLogic Corp.

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