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AMD CEO Makes $4.5 Million As Firm Profits From Intel Settlement
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AMD (AMD) CEO Dirk Meyer made $4.6 million last year as his company made a profit, but only because of a legal settlement with Intel (INTC) over antitrust matters. The money probably should have gone to general counsel Thomas McCoy, who made only $1.1 million.
The AMD proxy reports that Meyer’s base salary was $792,000.
AMD made a profit of $1.1 billion in 2009, all because of a payment from Intel for a settlement of an antitrust case. The amount is listed as $1.2 billion.
Revenue at AMD actually fell last year to $5.4 billion from $5.8 billion in 2008.
Part of Meyer’s compensation will not go to the law firm that represented AMD in the antitrust settlement, but it should.
Douglas A. McIntyre
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