News, info, and opinion by Mac users, for Mac users.

July 3, 2006

steve_jobs

The $65,000 question

Posted Jul. 3, ’06, 8:22 AM PT by Dan Moren
Category | Apple » Steve Jobs

Steve takes a seatAs I understand it, sitting on a board of directors is about as much work as you want it to be. It requires some voting and some, um, sitting. For which you are recompensed with an extremely large sum of money. Granted, to get in a position where companies are likely to ask you to be on their board, you’ve probably already made at least your first million.

But if you’re Steve Jobs, you’ve made a point over the years of not doing what everybody else would do in a similar situation. So when you’ve joined the board of Disney after they’ve acquired one of your companies, and they offer you $65,000 a year just to sit on the board, you take the job but politely decline the salary, even though it means that the company has to amend its director compensation policy.

Could Stevie J. start a trend of directors refusing money? I certainly wouldn’t plunk my hard-earned cash down on the prospect. Oh, and if there are any business out there looking for a board member, I’d just like them to know that my schedule is pretty wide open.


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