Tech Data CEO Salary Upped To $1M, Bonus Cut For Fiscal 2002

Tech Data

Raymund received a $1 million salary and $800,000 bonus for the company's 2002 fiscal year, according to the report. That compared to a salary of $975,000 and $1.7 million bonus he got in 2001, according to the proxy.

Also during last year, the distributor granted Raymund options to buy 80,000 shares at a price of $28.31 per share. Tech Data stock was $44.40 per share at the stock market's May 9 open .

Including shares he may purchase within the next 60 days and shares owned by trusts in which Raymund has an interest, the CEO's holdings in the company are worth $121.4 million, according to the proxy.

Nestor Cano, Tech Data's president, received a salary of $560,000 and a bonus of $312,000 during the company's last fiscal year, compared with a salary of $451,000 and bonus of $650,000 a year earlier. Cano was promoted during the year.

Tech Data CFO Jeffrey Howells saw his salary climb last year to $485,000 from $425,000 the year before, while his bonus dropped from $550,000 to $252,000, according to the company's proxy.

While many companies have struggled to maintain their stock prices, Tech Data has done relatively well on Wall Street. According to the company, a $100 investment in Tech Data in 1997 was worth $198 by the end of its 2002 fiscal year; during the same time, a $100 investment in the broad Nasdaq Stock Market would be valued at $139, Tech Data said in its proxy.