Xerox CEO John Visentin’s total compensation for his first year with the company topped $23 million in a mix of base salary, bonus awards, and stock options, the company disclosed in a regulatory filing.
The company’s compensation committee is asking shareholders to approve that total pay, as well as a projected $13 million in 2019 compensation in an advisory vote.
“During 2018, the Company conducted hundreds of calls and meetings with individual shareholders, and we received virtually no negative commentary from them concerning executive compensation,” the committee wrote in a filing. “Nevertheless, in 2019, we will establish a separate outreach program dedicated to compensation matters to ensure that we elicit and gather specific feedback that we can take into consideration as part of our shareholder engagement.”
The appointee of activist investor Carl Icahn -- who started the job on May 14, 2018 -- won praise from the company’s compensation committee for steering Xerox through a “turbulent” 2018 that included the ouster of the previous CEO as well as five board members, the scrapping of a deal with Fujifilm, as well as leading a reorganization of the company. read the rest here