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20 Mar 1996
Hardware giant IBM's biggest wig Lou Gerstner pulled in $4.78 million pay and bonuses last year. His 1995 swag bag was even heavier, amounting to $13.2 million in cash and shares, for what IBM quaintly termed 'total emoluments'.
Gerstner clearly works hard for his money as he does two jobs for IBM; he is chairman and chief executive officer.
Big Blue has dipped into petty cash for the acquistion of Integrated Services (ISL), a #4.3 million Middlesex-based service company which specialises in the maintenance of IBM mainframes.
The hardware firm is to fold ISL's 41 UK and 11 Swedish staff into IBM Global Services. Terms were undisclosed. But who would give odds on ISL costing as much as Gerstner's total emoluments?
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