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Soft Chip Market Slashes Executive Salaries at Idaho-Based Micron Technology.
Knight Ridder/Tribune Business News, December, 1998 by Carricaburu, Lisa
Knight Ridder/Tribune Business News
Dec. 2 -- Low memory-chip prices that have left Micron Technology Inc.'s partially completed Lehi plant idle also have bitten the company's top executives.
Chief Executive Officer Steve Appleton's pay declined 80 percent to $666,374 in 1998 from $3.3 million a year earlier, according to a proxy statement filed with the Securities & Exchange Commission in advance of Micron's Jan. 14 annual meeting.
Micron compensates executives based on the company's financial performance, according to the proxy statement. Dramatically lower revenue from dynamic random access memory (DRAM) chips made by the Boise-based company led Micron to lose $233.7 million in the 1998 fiscal year ended Sept. 3. Industrywide, DRAM revenue...
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