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Oct312009

Microsoft respond to shareholders on executive compensation (home buys)

Microsoft informed shareholders of changing its relocation benefits policy after hearing criticism over company’s money-losing purchases of homes of Stephen Elop, and other top executives “While we believe these agreements were fundamentally fair to both Microsoft and executives when they were made, in response to feedback we’ve received we’re changing our policy so that if an executive officer voluntarily leaves Microsoft within two years of joining company, we can recover amounts paid for relocation assistance,” company said in a filing with Securities and Exchange Commission (SEC) this afternoon. “There may be circumstances where we’ve a longer recovery period. Our previous policy was to require reimbursement of relocation assistance only if executive left Microsoft within one year.”

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