New Yahoo Chief Executive Marissa Mayer's compensation package could total more than $70 million in salary, restricted stock, and stock options over five years, according to a regulatory filing made by the company on Thursday.Mayer's pay package is broken out into $1 million in annual salary and $42 million in stock options and other awards, as well as $14 million in "make whole restricted options" for forfeiture of compensation from Google Inc. As the first female Google engineer and one of its earliest employees, Mayer's net worth is already estimated to be as much as $300 million.Yahoo's hiring of Mayer as CEO from Google earlier this week caught analysts, investors, and even some employees by surprise. Mayer, 37, edged out presumed front-runner and acting CEO Ross Levinsohn to become Yahoo's third CEO in a year.Industry observers believe Mayer's selection over Levinsohn is a signal that Yahoo is likely to renew its focus on Web technology and products rather than beefing up online content.http://economictimes.indiatimes.com/news/international-business/marissa-mayer-gets-70-mn-pay-package-to-lead-yahoo/articleshow/15049749.cms
20 JUL, 2012, 05.25AM IST, ULLEKH NP,ET BUREAU Meeting targets ainङt enough: Vivek Ranadivृ, TIBCO Software
NEW DELHI: In corporate America, an Indianorigin billionaire-entrepreneur is resetting the rules of employee appraisal. Vivek Ranadive, the founderchairman of TIBCO Software, recently sacked his America sales chief despite the Palo Alto, California-based infrastructure-software provider surpassing market expectations. He had to because he grades his employees in a very contrarian way. "If you do everything you are asked to do and you do it very well, you get a C," he says. "In order to be a superstar (to get an A or Aplus)," he says, "you have to do things that nobody asked you to do."
When it comes to earnings, too, this Silicon Valley hotshot isn't happy with merely beating analysts' forecasts. "There is a very high bar for performance at TIBCO (much higher than analysts' expectations)," he told ET in an interview.
After TIBCO announced it was removing Robin Gilthorpe as head of sales, Americas, Ranadive, who is widely credited with digitising Wall Street, said in a conference call with analysts that he was not happy with the way the company was performing for the past three or four quarters. "We felt that execution in other geographies like Europe and Asia was very strong. I felt we were leaving too much money on the table (in the American markets)."
In fact, TIBCO grew really fast: its second-quarter sales grew 13% in the Americas compared with a 22% growth in Europe and 27% in Asia, beating analysts' forecasts. Its quarterly net profit rose to $26.5 million, or 16 cents per share, from $21 million, or 12 cents per share, a year ago, again, exceeding market expectations. Aaron Schwartz, a New York-based analyst at Jefferies & Co, said the "(TIBCO) management has pretty high internal expectations".
"What we need is we need to execute faster," says the 54-year-old Mumbaiborn alumnus of MIT and Harvard Business School who in 2010 became the first person of Indian-origin to own an NBA team, Golden State Warriors. "We need to continue to focus aggressively on the Americas," adds Ranadive, whose best-selling books include The Power of Now and the Two-Second Advantage.
TIBCO, which competes with the likes of Oracle and Progressive Software, plans to double its presence in Asia to rev up sales further, Ranadive said. It will also double its work force in India over the next 18 months. It has two offices in the country, in Pune and Hyderabad, he noted.
Ranadive, a black belt in Taekwondo, says he plans to open gyms across the world to promote martial arts, including in India. He didn't elaborate because he thought it was too early to disclose details. Early this year, TIBCO launched a "Facebook" for participants of the World Economic Forum at Davos. Called TopCom, it is an exclusive, highly secure social networking site that helps global leaders interact with one another.
A few years ago, celebrated author Malcolm Gladwell had written an article in New Yorker, titled "How David Beats Goliath", about Ranadive's "unconventional strategy" for winning, based on how he trained his daughter's basketball team to take on bigger teams.
NEW DELHI: In corporate America, an Indianorigin billionaire-entrepreneur is resetting the rules of employee appraisal. Vivek Ranadive, the founderchairman of TIBCO Software, recently sacked his America sales chief despite the Palo Alto, California-based infrastructure-software provider surpassing market expectations. He had to because he grades his employees in a very contrarian way. "If you do everything you are asked to do and you do it very well, you get a C," he says. "In order to be a superstar (to get an A or Aplus)," he says, "you have to do things that nobody asked you to do."
When it comes to earnings, too, this Silicon Valley hotshot isn't happy with merely beating analysts' forecasts. "There is a very high bar for performance at TIBCO (much higher than analysts' expectations)," he told ET in an interview.
After TIBCO announced it was removing Robin Gilthorpe as head of sales, Americas, Ranadive, who is widely credited with digitising Wall Street, said in a conference call with analysts that he was not happy with the way the company was performing for the past three or four quarters. "We felt that execution in other geographies like Europe and Asia was very strong. I felt we were leaving too much money on the table (in the American markets)."
In fact, TIBCO grew really fast: its second-quarter sales grew 13% in the Americas compared with a 22% growth in Europe and 27% in Asia, beating analysts' forecasts. Its quarterly net profit rose to $26.5 million, or 16 cents per share, from $21 million, or 12 cents per share, a year ago, again, exceeding market expectations. Aaron Schwartz, a New York-based analyst at Jefferies & Co, said the "(TIBCO) management has pretty high internal expectations".
"What we need is we need to execute faster," says the 54-year-old Mumbaiborn alumnus of MIT and Harvard Business School who in 2010 became the first person of Indian-origin to own an NBA team, Golden State Warriors. "We need to continue to focus aggressively on the Americas," adds Ranadive, whose best-selling books include The Power of Now and the Two-Second Advantage.
TIBCO, which competes with the likes of Oracle and Progressive Software, plans to double its presence in Asia to rev up sales further, Ranadive said. It will also double its work force in India over the next 18 months. It has two offices in the country, in Pune and Hyderabad, he noted.
Ranadive, a black belt in Taekwondo, says he plans to open gyms across the world to promote martial arts, including in India. He didn't elaborate because he thought it was too early to disclose details. Early this year, TIBCO launched a "Facebook" for participants of the World Economic Forum at Davos. Called TopCom, it is an exclusive, highly secure social networking site that helps global leaders interact with one another.
A few years ago, celebrated author Malcolm Gladwell had written an article in New Yorker, titled "How David Beats Goliath", about Ranadive's "unconventional strategy" for winning, based on how he trained his daughter's basketball team to take on bigger teams.
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