InfiniBand developer Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) has awarded $285,000 in annual bonuses to its executives.
Mellanox chairman, president and CEO Eyal Waldman received a bonus of $142,000, VP operations and engineering Shai Cohen received $33,000, CTO Michael Kagan received $32,000, and CFO Michael Gray and VP worldwide sales Marc Sultzbaugh each received $40,000.
The bonuses are being distributed just four months after Mellanox announced that it was restoring executives' salaries to their pre-crisis levels. It had cut executives salaries by 15% a year ago in a belt-tightening measure. With the economic recovery and improvement in business, the company is again pampering its executives.
Mellanox posted $116 million revenue in 2009, 8.4% more than the $107 million in 2008, and net profit rose to $12.8 million.
Mellanox's share closed at $18.48 on Nasdaq on Friday, giving a market cap of $618 million. The share rose 3.4% at the opening on the TASE today to NIS 71.19.
Published by Globes [online], Israel business news - www.globes-online.com - on February 14, 2010
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