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Kin Snafu Hits Ballmer Where It Hurts

For fiscal year 2010, Microsoft CEO Steve Ballmer received just half of the maximum bonus available, according to documents filed with the SEC. Why? The Kin (!), or, more broadly, the company's continued struggles in the mobile market. That's right, due in large part to mobile, the company's compensation committee viewed Ballmer's performance as mixed, reports AppleInsider.com.

Specifically, Ballmer was faulted for "the unsuccessful launch of the Kin phone; loss of market share in the company's mobile phone business; and the need for the company to pursue innovations to take advantage of new form factors," according documents filed with the SEC. Don't worry about Ballmer, though. Of a bonus worth up to 200% of his base salary, the excitable CEO was awarded his "target bonus" of 100%, resulting in annual compensation of $1.34 million. Also, despite its mobile woes, Microsoft, post a record $62.5 billion in revenue for fiscal year 2010, which ended on June 30.

Read the whole story at Apple Insider »

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