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Lucent wants to see results for executive compensation; CEO's bonus tied to earnings; no new Duane Reade suitors.(Finance)
Crain's New York Business, February, 2004 by Elstein, Aaron
Byline: aaron elstein Top executives who want to pocket the sort of lavish compensation packages that made chief executive pay such a sore subject during the bear market are having to meet somewhat tougher standards these days. Lucent Technologies Inc. last year changed the way it determines the annual bonus of CEO Patricia Russo.
Under the plan, disclosed in the Murray Hill, N.J., company's annual proxy statement, a portion of Ms. Russo's annual bonus package through 2005 is now explicitly tied to growth in operating earnings over three years. If earnings fail to reach unspecified targets, Ms. Russo won't qualify for an annual bonus under the plan. She can collect a total of $4 million under the program, but isn't eligible to pocket any of the money until...
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