Bill Nuti, NCR CEO, made $16.8M in 2007, a 141% increase

Bill Nuti, NCR's CEO, made $16.8M in total compensation in 2007, an increase of 141% over 2006 (which was $6.8M).

In 2007, NCR closed facilities in Scotland and Canada, outsourcing some manufacturing (Solectron/Flextronics in the USA) or moving it to low cost countries (Hungary, India). Moreover, the Customer Engineers had their pay and benefits slashed severely. In 2008, there is a hiring freeze in effect, as well as coop student hiring freeze. Many employees also got a zero % increase for 2008.

Also, NCR has spun off Teradata as a separate company in September, and NCR is now a smaller company with smaller revenue.

It seems that these cost cutting measures were seen by the board of directors as positive and warranted the 141% raise for Nuti.

In reality, Nuti only made $9.3M in 2007, but accounting rules have to state the value of shares from the spinoff in a way to make it look like he got $16.8M. Still, an increase from 6.9M to 9.3M is sizeable for a company that has shrunk, and closures, and ongoing cost cuts.

Sources

• Dayton Business Journal.
• Forbes.
• NCR Insider trading: William Nuti.