|
|
|
16 Apr 2010
Former Insight Enterprises chief Richard Fennessy pocketed more than $6m last year, after being handed a huge severance package.
Documents recently filed with the US Securities and Exchange Commission reveal Fennessy was paid just over $6.2m (£4m) in 2009 by the Arizona-based resale titan. His base salary of $513,461 was supplemented by $360,261 worth of stock awards and $829,963 from Insight's non-equity incentive plan.
Fennessy left his post as chief executive in September to "pursue other opportunities". The company's board also claimed it was the right time to consider changing leadership. Anthony Ibargüen led the company until the end of the year, at which point ex-Tech Data executive Kenneth Lamneck took the reins.
Further reading
Fennessy's "other compensation" for 2009 is listed as being more than $4.5m, the vast majority of which came from a hefty severance package. This brings the overall 2009 total to about $250,000 more than the $5.95m he banked in the previous year.
Insight's global sales slipped 14 per cent annually last year to $4.14bn. But the company did bank GAAP net profit from continuing operations of $30.8m, following a $239.7m loss in 2008.
Related articles
In this video find out about the fast-growing Chinese vendor's plans for market domination and how the channel is its route of choice
Find out what gifts Acer has in store for partners for 2012 in this exclusive roundup of its recent conference
CRN's premier networking event is back on 17 May at the Ricoh Arena
Date: Thu 17 May 2012
Channel fighters preparing to square up once more on 24 May
Date: Thu 24 May 2012
The proliferation of endpoint devices within the enterprise has highlighted the shortcomings of one of the traditional approaches to data security
This Forrester report compares the costs and benefits of legacy email and productivity software with Google Apps
Dave discovers that rozzers are seemingly living in the technology dark ages
Mark Needham, founder of distributor Widget, argues that John Browett leaves for Apple with Dixons in better shape than when he arrived
|
|
|
Do you agree?
Have your say