Network Computing is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Tucci's Touch of Gold

Life is twice as nice for Joe Tucci these days. When the EMC Corp. (NYSE: EMC)
CEO refers to the uptick in technology spending he expects this year, he might be referring to his own bonus check.

According to a proxy filed today with the SEC, EMC more than doubled Tuccis incentive bonus last year to $1.71 million from $675,000 in 2002. His 2003 base salary remained the same at $1 million. (Tucci's not to be confused with the actor, Stanley Tucci.)

Not a bad year for a CEO. For instance, last month Hewlett-Packard Co. (NYSE: HPQ) set Carly Fiorina’s bonus at $2.1 million on top of a $1.24 salary -- and that was a pay cut for her. (Carly's not to be confused with the singer, Carly Simon.)

But even with the hefty raise, it’s hard to say Tucci was overpaid, considering EMC turned a $496.1 million profit after losing money the two previous years (see EMC: Everything's 'Better'). Tucci certainly had his critics during EMC’s lean years, so why not cash in now?

“Is he one of the best CEOs on the planet? Probably not,” one financial analyst says. “But he’s doing better than some of his peers.”

  • 1