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Business Briefing / Compensation

Broadcom CEO's pay declines 8%

March 31, 2009|Times Wire Reports

Broadcom Corp. Chief Executive Scott McGregor received a compensation package valued at $6.6 million in 2008, down 8% from the previous year, according to an Associated Press analysis of a regulatory filing.

McGregor's base pay for the year grew 6% to $679,250. He also received a cash bonus of $308,694. He received no such bonus in 2007.

His performance-related compensation fell 5% to $306,306 in 2008.

The bulk of McGregor's pay came in the form of stock options valued at $5.3 million at the time they were issued. Sales soared and earnings edged up at the Irvine chip maker in 2008, though the company reported a $159-million loss in the fourth quarter.

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