Microsoft Corp. CEO Steve Ballmer was awarded 79 percent of his target bonus for the companys latest fiscal year, with the software giant citing falling profits for its Windows division and sluggish sales of the Surface tablet.
The $550,000 award was detailed in a securities filing Thursday and is tiny compared with Ballmers $11.3 billion fortune in Microsoft stock. It reflects the boards dissatisfaction at a turning point in the companys 32-year history as it aims to become a devices and services company, moving beyond mostly software.
Ballmer, 57, said in August that hed step down within 12 months, and Microsoft is searching for a new CEO.
Ballmer has long requested relatively low pay for the CEO of a major U.S. company, mainly because his wealth is already tied to Microsofts fortunes.
Revlon CEO Ennis resigns from post
Makeup company Revlon Inc. said CEO Alan Ennis is leaving to pursue other interests.
The company last week named former CEO David Kennedy to the post on an interim basis. Ennis had served as CEO since May 2009.
The company, controlled by billionaire businessman Ronald Perelman, has been dealing with declining revenue.
In its most recent quarter, reported in July, net income more than doubled, bolstered by a large insurance gain related to a fire that destroyed a Venezuelan plant. But revenue slipped 2 percent to $350.1 million from $357.1 million, stung by unfavorable foreign currency translation.
Kennedy, 66, had served as CEO from 2006 to 2009 and is currently Revlon Inc.s vice chairman. He started at Revlon in 2002 as executive vice president and president of Revlon International.
Rdio adds free listening on mobile devices
Digital music service Rdio (AR-dee-oh) has launched its free Internet radio service in the U.S., Canada and Australia, a move to help it compete with digital rivals Pandora and Spotify.
For now, the app that works on Apple and Android devices wont play ads between the songs that are randomly picked based on genres, artists, songs or albums.
The company hopes nonpaying listeners will sign up for a $10-a-month subscription that adds features like the ability to pick and choose exact songs and albums.