Online sales grew by more than 30% in the fourth quarter, but store sales slid by 6.1% year over year.
Amazon.com’s CEO Jeff Bezos received $1.28 million in compensation for 2008, the same rate as in the previous two fiscal years with no bonus or stock options. The company’s annual proxy statement sheds little light on Bezos’ total net worth.
Amazon.com’s CEO Jeff Bezos received $1.28 million in compensation for 2008, the same rate as in the previous two fiscal years. The company’s annual proxy statement sheds little light on Bezos’ total net worth. His pay package included $81,840 in salary, no stock or bonus, but $1.2 million for security arrangements within the company and when Bezos travels, according to the statement filed with the Securities and Exchange Commission. A footnote to the $1.2 million line item says, “Represents the approximate incremental cost of security arrangements for Mr. Bezos in addition to security arrangements provided at business facilities and for business travel. The Company believes that all Company-incurred security costs are reasonable and necessary and for the Company’s benefit.”
Amazon, No. 1 in the Internet Retailer Top 500 Guide, reported larger 2008 compensation packages for its other top executives, including Thomas Szkutak, CFO, at about $2.26 million, and Brian Valentine, senior vice president of e-commerce platform, at $3.87 million.
Szkutak’s pay breakdown was $157,500 in salary, $2.1 million in stock awards and $3,150 in shares of common stock contributed by the company to his 401(k) retirement plan. His total 2008 compensation represented a 78% increase from about $1.27 million in 2007.
Valentine’s base salary for 2008 also was $157,500, along with $3.38 million in stock awards, a $333,333 bonus and $3,150 in common stock contributions to his 401(k). Valentine’s total compensation declined by about 25% from $5.19 million in 2007 chiefly because of a $966,667 decrease in bonus pay.