AMD denies Ruiz raise, says it's just a misunderstanding

Last week, we reported that Hector Ruiz -- CEO of chipmaker AMD -- had received a 7.4-percent raise even though the company has been struggling as of late and its stock has dropped considerably over the past year. Now, according to reports, the rumors of the pay increase have turned out to be the product of a misinterpreted SEC filing -- or so say the public relations people at Advanced Micro Devices. Apparently, the confusion stems from a pay raise that the honcho received in 2006; somehow the change in figures halfway through the year led to a proxy statement of $1,046,358 -- the supposed new salary. The "clarification" still leaves a few questions unanswered, but at least for now we can sleep soundly knowing that Hector Ruiz, the highest paid CEO in the semiconductor industry, will only be earning a paltry $1,124,000 this year.

[Matthew Hilario @ Dec 17th 2007 6:39PM]

god damn irs messing with my chrismas bonus'!! BAH!

[droopy1592 @ Dec 17th 2007 6:49PM]

We should really be worried about those CEOs whose salaries range from 20-700,000,000 a year, not just 1 million.

[John P @ Dec 17th 2007 6:52PM]

Yeah, but no CEO whose company is tanking should get any raise.

[Josh @ Dec 17th 2007 6:56PM]

A raise was a joke, this guy needs to get his act together before he gets anything.

[Jonathan Keim @ Dec 17th 2007 6:50PM]

Hector Ruiz: "I DESERVED THAT RAISE"

*distant cough ten seconds later*

[thatbiggbadwolfy @ Dec 17th 2007 7:15PM]

That raise is nothing. Directors at financial firms earn double his salary. The highest investment bank CEO this year will be paid $66 million. He still needs to get the company's act and vision together nonetheless.

[alexbond @ Dec 18th 2007 1:55PM]

i want to make 2 dallers a second for driving my company into a 2 foot deep pot hole

[Anthony @ Dec 17th 2007 7:18PM]

I read once that at one time Japanese business couldn't have their highest make more than 10 times the lowest. Has that changed? Probably but I sure like the model.

Or put the guy on commission. If it's good enough for most of the folks *selling* his product, it should be good enough for him.

[rv @ Dec 17th 2007 7:18PM]

1,124,000?
Wow, that really is not a lot of money. Seriously, I'm shocked. I would've expected one more zero at the end of that and wouldn't have been surprised by 2.

[Reader @ Dec 17th 2007 7:52PM]

I sure as hell would hope not, you know, since he has *literally* cut AMD in half.

[Anonymous @ Dec 19th 2007 4:34PM]

You do realize he earns much more money because of stock options and other bonuses?

[Brodie @ Dec 17th 2007 8:01PM]

This is probably just his cash salary. His options are undoubtedly worth millions more.

[Wwhat @ Dec 18th 2007 1:00PM]

If he's so stupid to have options in AMD he should be fired.

[DannyC @ Dec 17th 2007 8:04PM]

Did anyone else notice that the numbers seem to be backward in the post? It quoted his supposed new salary as $1,046,358 and the actual salary as $1,124,000. If you read the article, its the other way around (you can also verify it because clearly $1,124,000 is more than $1,046,358).

[Wes Palmer @ Dec 17th 2007 9:35PM]

That's kinda the point. It turns out he's getting more than he was reported getting. Or maybe it's just a screw up.

[Bill P @ Dec 17th 2007 8:32PM]

Hector Ruin-us had the same effect at Motorola Semiconductor in the 90s. Moved the HQ from PHX to Austin and started the downfall of the largest Semiconductor manufacturer in the world. Pretty soon fabs were closing or being sold to other companies. He's the reason so many people lost their jobs and he's still at it at AMD.

[KPH @ Dec 17th 2007 9:38PM]

You got it wrong and so you should be more gracious in your apology.

KPH

[JAmerican @ Dec 17th 2007 9:36PM]

I used to stand by AMD because I thought that they were different but this raise scenario just proves to me that a company is a company. And a CEO is a CEO. No matter which way you slice it, they are basically all the same. That's why my next machine may very well be an Intel one. Sure they have a record of monopolistic practices but so does M$ and I still use XP.

[Will @ Dec 17th 2007 9:48PM]

You guys are dicks, the man works hard, he deserves the money.

[JuggleNuts @ Dec 18th 2007 10:51AM]

Then he should try NOT working hard ... like reverse psychology for the health of AMD

[Kax02 @ Dec 18th 2007 1:55AM]

If he was working hard he wouldn't be the black plague to companies. If this was just him having a bad year it wouldn't be too horrible, but when he has a standing failure and has managed to reproduce it in a new company, it proves he probably shouldn't be in a position of controlling the show.

[Sam @ Dec 17th 2007 11:32PM]

Wow how can you make that little from being the top dog of the company? My parents make more doing commercial real estate.

[Jesus @ Dec 18th 2007 12:16AM]

know wonder they have problems. I wouldn't lead that ship reck for so little.

[william @ Dec 18th 2007 2:46AM]

all i got to saw is: aww....