"

Estimated reading time: 1 minute, 46 seconds

ADP Slashes Executive Bonuses

Gary Butler pictureExecutive compensation at ADP followed the market down as the payroll services giant slashed bonuses and stock awards for its CEO and CFO for 2009. President and CEO Gary C. Butler saw a 15.2 percent decline in his salary while compensation for CFO Christopher R. Reidy was off 24.5 percent.

 

 

Butler received total compensation of $8.1 million for 2009, down from $9.6 million in 2008. However, his bonus fell to $1.29 million, down almost 50 percent from $2.58 million a year earlier and his stock compensation dropped to $1.3 million, down 39 percent from $2.2 million in 2008. He did make up some ground in non-deferred compensation earnings, which represent two executive pension plans. The value of those rose to $1.7 million for 2009, up 57.3 percent from $1.1 million a year ago. 

Reidy's total compensation dropped to $1.83 million, down 24.5 percent from $2.42 million in 2009. His bonus dropped to $346,600, a decline of 33.9 percent from $542,520, the prior year. His stock award of $492,623 for 2009 was 47.8 percent lower than the $944,519 granted him in 2008.

 

Among other executives, Regina R. Lee, president of the Employer Services national accounts division received $1.64 million, including $425,000 in base pay. Benito Cachinero, VP of human resources was paid $1.51 million, including a $400,000 base salary. That was the same base given to Carlos Rodriguez, president of Employer Services small business services division. Rodriguez was given $1.58 million in total compensation

                    
Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
Read 6774 times
Rate this item
(0 votes)

Visit other PMG Sites:

Template Settings

Color

For each color, the params below will give default values
Tomato Green Blue Cyan Dark_Red Dark_Blue

Body

Background Color
Text Color

Header

Background Color

Footer

Select menu
Google Font
Body Font-size
Body Font-family
Direction
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.