IBM CEO & Chairman Rometty receives $16.2 million in compensation

Northern, WI 03/12/2013 (avauncer) - Even as the market remained sluggish, CEO and Chairman of International Business Machines Corp. (NYSE:IBM) Virginia M. Rometty has received total compensation worth $16.18 million in 2012.

Her pay package showed a raise in incentive compensation, effective October 1, 2012, when she took over an added responsibility of a chairman of IBM board.

IBM’s Compensation Committee recommended that Rometty’s base salary remain $1.5 million and that her 2012 annual incentive target be increased from $3.5 million to $4 million.

In 2012, the annual incentive earned by Rometty represented 27% of her total compensation and 10% of her compensation in salary. Her compensation also included $9.25 million stock award.

On the other hand, IBM’s Former Chairman Sam Palmisano earned $37 million, much higher than Rometty’s package. However, Palmisano’s compensation mostly included the $20 million stock award.

Rometty, who heads the world’s ninth largest company, has become one of the best paid female leaders in the U.S. She became president and CEO on January 1, 2012 and assumed the role of Chairman on October 1, 2012.

Shares of International Business Machines Corp. (NYSE:IBM) were down by 0.05% and currently trading at $209.97.