Human Capital & Careers

More Than $4.8 Million for Lucent CFO

Amid a sea of shrinking pay packages, chief financial officer Frank A. D'Amelio received $4.2 million from two different bonus pools.
Stephen TaubJanuary 6, 2005

It’s still a little early before companies operating on calendar years begin trotting out their proxies — and those interesting pages dealing with executive compensation.

However, a few companies that operate on fiscal years recently announced those numbers. The early line is that top executives — including finance execs included — fared quite well in 2004.

Take Lucent Technologies, where last year chief financial officer Frank A. D’Amelio earned more than $4.8 million. Amid a sea of shrinking pay packages, D’Amelio received $4.2 million from two different bonus pools. According to the proxy, $1.5 million is an annual incentive award; another $2.7 million is the portion of the three-year performance awards, covering fiscal 2003 through fiscal 2005 and fiscal 2004 through 2006, that have been earned based on the company’s fiscal 2003 and 2004 results, respectively. His total bonus payment for 2003 worked out to a little more than $1.4 million.

In 2004, D’Amelio also received options to buy 1 million shares.

Garry K. McGuire, chief financial officer and senior vice president for corporate development at Avaya Inc., took home nearly $3.7 million last year, including almost $2.4 million from realized gains on exercised options. McGuire also received a $657,000 bonus, nearly double the $359,000 he received a year earlier.

Another finance executive who did rather well last year was Kronos chief financial and administrative officer Paul Lacy. He earned more than $1.7 million, including a $297,000 salary, and a $206,500 bonus, up from $131,100 a year earlier. Lacy also realized more than $1.2 million from exercising options.

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