The filing made no mention of the reason for the move, but given the accent I heard from Cowan on the 2013 earnings call, I'd say he's staying in Texas. During the call, Cowan repeated statements by the company that he was brought on to drive growth. But I wasn't the only one to note his history of running companies short-term before their sale. One blog calls him a "graveyard veteran", referring to the disappearance of several organizations he shepherded. Oh yeah, Crusco's agreement provides another $100,000 in case of certain qualified terminations and she decides to move back to California. Given the $90-plus million in interest Epicor is paying quarterly on the debt involved in buying and merging Epicor and Activant, I thought that selling the company is probably the only way to really trim that.
EPCIOR NOTES CEO, CFO SALARIES Featured
Epicor Software is paying its new CEO Joseph Cowan $650,0000, in annual base salary according to a document attached to an SEC filing. That looks a little low for a company this size, but what do I know? Epicor also showed it is paying CFO Kathy Crusco $410,000 in yearly base salary, part of an agreement that spells out terms of her relocation to Austin, Texas, from California. She receives a one-time net payment bonus of $100,000. Since Epicor is a private company - the SEC filings are voluntary - we don't get proxies that recite the all compensation received by named executives of public companies.
