History 2004: Tufano from Maxtor Millionaire Four Times Over in 2003

The U.S. corporate affairs magazine Forbes recently ranked several CEOs from California-based computer storage device companies, according to their earnings (total cash compensation from their own company as well as all gains as board members of other firms) for their company’s fiscal year ended sometime in 2003 (see results, below).

Meanwhile, the San Francisco Name Business Times came up with its own, less kind list, of the most overpaid CEOs in the Bay area, when compared to their companies’ financial results.

The ≠1 is Mike Cannon, the former CEO of Maxtor and now CEO of Solectron, who clearly did not deserve the $18 million he earned last year. In the ≠ 3 position, behind Cannon, we find Greg Reyes, chairman and CEO of Brocade Communications.

This article is an abstract of news published on issue 198 on July 2004 from the former paper version of Computer Data Storage Newsletter.