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EMC's Tucci takes home millions

EMC's chief executive reaped a $1.7 million bonus in 2003--up more than a million dollars from the previous year--as the data storage company returned to profitability.

EMC's chief executive, Joe Tucci, reaped a $1.7 million bonus in 2003--up more than a million dollars from the previous year--as the data storage company returned to profitability. Tucci's 2003 salary remained $1 million, but he also received restricted stock valued at $3.7 million and other compensation totaling about $124,000. In addition, Tucci was granted stock options worth nearly $8 million. Hopkinton, Mass.-based EMC reported net income of $496 million last year, compared with a net loss of $119 million in 2002 and a loss of $508 million in 2001.

Under Tucci, EMC has embarked on an ambitious acquisition strategy to boost its software offerings and has pushed the concept of so-called information lifecycle management. That refers to technology and services to keep track of data and store it on the appropriate equipment as it ages.