HTC executive compensation cut by 51 percent after poor year
The company's top executives were paid a total of $22 million in 2012, less than half of what they made in the previous year.
HTC, the embattled smartphone maker, cut its executive compensation by a ton in 2012.
The company revealed in its 2012 Annual Report on Friday that it paid 660.5 million New Taiwan dollars ($22 million) in total compensation to its executives. The compensation includes salary, retirement pay, bonuses, and profit-sharing, according to the Dow Jones, which was first to report on the figures. The NT$660.5 million is down 51 percent compared to 2011, when the company paid out NT$1.36 billion to its executives.
The decision was made last year as HTC's performance continued to dwindle. The company's smartphone sales plummeted during the year, and shareholders sold off the company's stock at a rapid rate, losing 80 percent of their value in a little over a year.
HTC believes that it's on the right path now, though, and announced recently that it sold 5 million units of its HTC One flagship device in its first month of availability.