After a rough 2012, HTC cut its executives’ salaries by a whopping 51%, the Wall Street Journal’s Eva Dou reports.
In 2011, top HTC executives earned a combined NT$1.36 billion (about $50 million), according to its annual report released in Taiwan on Friday and cited by Dou. In 2012, they were paid NT$660.5 million (about $22 million) including salary, retirement pay, bonus and profit sharing.
Both HTC CEO Peter Chou and top engineer Fred Liu saw their total pay dip to under NT$100 million ($3.3 million) each last year, the first time in two years, Dou reports.
HTC is imploding. Top talent has been leaving and competition from Samsung and low-cost alternatives have been eating its market share.
The company is hoping the HTC One will turn things around. The smartphone has been getting great reviews, but production problems delayed its launch, and now Samsung’s Galaxy S4 seems to be sucking up all the attention.
HTC’s Facebook Home phone certainly didn’t help. That was widely considered to be a flop.
HTC reportedly signed Robert Downey Jr. to become its new spokesman. Can Iron Man save it?
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