XEROX RETIREES WANT EXEC BONUSES ……

  • mse-big-banner-new-03-17-2016-416716a-tonernews-web-banner-mse-212
  • 05 02 2016 429716a-cig-clearchoice-banner-902x177
  • 536716a_green_sweep_web_banner_902x17712
  • 2toner1-2
  • futor_902x177v7-tonernew
  • banner-01-26-17b
  • 161213_banner_futorag_902x177px
  • ink-direct-banner-902-x-177-v-1-2-big-banner-03-23-2017
  • Print
  • cartridgewebsite-com-big-banner-02-09-07-2016
  • 4toner4
Share

XEROX RETIREES WANT EXEC BONUSES ……

 user 2006-04-20 at 12:16:00 pm Views: 57
  • #15217

    Xerox retirees want exec bonuses tied to revenue
    A group of Xerox Corp. retirees wants the company to tie executive bonuses to revenue growth.
    The
    Association of Retired Xerox Employees, a Webster-based group
    representing more than 2,000 retirees, said it believes “Xerox’s
    current use of bonus award incentives to compensate its executive
    officers has the potential to reward mediocre company performance.”
    The proposal was detailed in Xerox’s proxy statement, which was released last week.
    The
    group’s chairman, David Coriale, said in an interview that his group
    submitted the proposal because it believes the plan would boost
    shareholder value and help protect retiree benefits by making the
    company stronger financially.
    “If the corporation isn’t growing,
    then the continued erosion of our benefits is to be expected,” he said.
    “That’s less likely to be happening if the corporation was growingXerox
    revenue has been essentially flat for the past two years, hovering
    around $15.7 billion.The company’s board of directors recommended a
    “no” vote on the proposal, calling it “misguided.”"If the proposal were
    implemented … the interests of shareholders could be in conflict with
    the goals of the company,” the directors wrote in the proxy. “For
    example, revenue could be increased at the expense of profitability or
    long-term share value.”Xerox said it currently gives executive bonuses
    based on performance measures, including revenue, cash flow and
    operations earnings per share.Xerox employs about 8,100 people in the
    Rochester areA