KPN cuts senior staff annual bonuses
Tuesday 21 February 2012
Telecom company KPN reduced bonuses to its board members sharply in 2011, according to its annual report presented on Tuesday.
CEO Eelco Blok received a basic salary of €767,000 and an annual bonus of €198,000 for achieving short-term goals. He also received a long-term share packet worth €1.09m.
His predecessor, Ad Scheepbouwer, received a much higher basic salary and an annual bonus of €1.3m in 2010, reports the Telegraaf. The two men received comparable long-term share bonuses.
According to KPN, the lower bonus for Blok is based on the company not realising some of its short-term goals. It is also due to a move towards a bonus system based less on the short-term and more on the long-term.
© DutchNews.nl
Get the DutchNews.nl newsletter in your mailbox: Click here to subscribe
|
Comments have been closed for this article.
|
|