NEWS - Friday, October 1, 2010
Xbox Division Head Robbie Bach Departs
Microsoft Entertainment and Devices president Robbie Bach will soon be departing the company, and in so doing he will be leaving a fair chunk of change on the table (via The Seattle Times).
The outgoing head of Microsoft’s Xbox business was awarded 100 percent of his performance bonus following a year in which his division set records with $8.1 million in revenue and $679 million in operating income. In addition to $1.4 million, Bach was to earn stock awards worth $5.6 million.
However, Bach’s retirement means that Microsoft is only giving him 25 percent of his stock award, so he will be losing around $4.2 million of his bonus.
Bach is leaving along with the division’s chief techonology officer J Allard after one of the most successful years for the Entertainment & Devices division. The departure becomes official on December 31.
As much as Bach is losing to retire though, $2.8 million on top of his $645,000 base salary doesn’t seem like a bad consolation prize.
Source: http://www.1up.com
