Tyco Chairman rakes it in by the truckload
Wow, would I love to be a CEO for one of these companies!! I would make a couple of speeches saying how sorry I was that I was being paid so much. I would give a couple of million to a homeless shelter (see video below – needless pain and suffering in New Orleans makes me want to puke) and I would frequently fly to an Hawaiian island and tell everyone to bite my butt! Unfortunately, I’m not in the club.
The chief executive of Tyco International Inc., which recently spun off its heath care and electronics units, received compensation valued by the company at about $34.1 million in fiscal 2007, according to a preliminary proxy statement filed Friday with the Securities and Exchange Commission.
Edward D. Breen, 51, received a base salary of $1.6 million in the fiscal year ended Sept. 28. He did not receive a bonus, but he did get about $3.3 million in non-equity incentive plan compensation. (more…)