Motorola's Co-CEO Sanjay K. Jha is Paid $104 Million To Do I Don't Know What

Matt Richtel of the NYTimes notes that Motorola's Co-CEO Sanjay K. Jha was paid $104 million dollars last year, putting him at the highest end of of salaries for the 200 largest public companies that filed proxies by March 27th.

Wikipedia reveals that Jha worked at Qualcomm, where he helped develop satellite phones, among other projects.

Some of those execs in the top 200 companies undoubtedly get paid in perks like jet-time and stock, but that's not a small piece of change during these times. And from a company not yet public with a recovery plan for its ravaged mobile handset division. It's quite a non story, perfect for a blog, without any resolving arc. The question of what Jha is doing to earn that kind of money is fascinating enough to think about without an answer. What do you think? [NYT]

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Ironically, Motorola posted a loss of $50M in 2007... Seems like they could cut some of the cream off the top by nixing the "co-CEO" (which is, itself, a VERY strange and rare configuration) who does... no one knows.

To be fair though, his options only vest if it hits over $9/share, and most of the $100M figure is in options, so this looks highly unlikely. His base salary of $400k and $400k in perks is more inline.

Meanwhile, compare and contrast this to Alan Mulally, Ford's CEO for the past two years. Mr. Mulally earns just $2M in salary (though an additional $18M in other compensation) but he's a big part of the reason the company's finances aren't in the dismal state that GM and Chrysler's are—if he does to Ford what he managed at Boeing, he'll literally be worth every penny.

And compared to $100M for a "Co-CEO"... man.