He replaces Charles Phillips who held the job for nine years and who has now become chairman for the board of directors. The company says this was a planned succession. Samuelson will receive a base salary of $800,000 and is eligible for a cash bonus of up to $2 million based on reaching performance targets. In his new role, Phillips gets a $1 million salary and reimbursement from the company of up to $150,000 and the ability to participate in employee benefit program, excluding cash bonus and incentive equity compensation. Chief accounting officer, who was named CFO to succeed Samuelson, is receiving a base salary of $450,000 and he is eligible for an annual cash bonus of up to $750,000. Infor will pay Soma Somasundaram, who was promoted to the position of president of products and of Infor, and who remains as chief technology officer, is receiving an annual base salary of $700,000 and is eligible for a bonus of up to $1.8 million.Last modified on Thursday, 29 August 2019
INFOR SETS EXEC SALARIES Featured
Infor has set salaries for its new roster of executives. The pay levels were reported to the SEC this week following the software company’s announcement this month that CFO Kevin Samuelson has been named CEO.