Outgoing Adobe CEO Bruce Chizen took home US$8.3 million in compensation and grabbed another $29.6 million through exercising stock options in 2007, the company's latest regulatory filing reveals.
Chizen led Adobe for seven years before announcing his retirement. He took home a base salary of $925,000 and $2.3 million in incentive pay. The rest of his income came in the form of stock and option awards.
The Adobe boss sold 1.7 million Adobe shares to yield $29.6 million last year. At the end of 2007 he still owned 3 million exercisable options and another 702,000 that hadn't yet been vested.
Shantanu Narayen, who took over as CEO, earned compensation worth $5.3 million in 2007, with a base salary of $600,000. Narayen received an incentive payout of $1.3 million, stock and option awards worth $3.4 million, and $8,990 in other compensation. He sold $10.1 million in shares.
Chizen, who resigned Nov. 30, is to serve as a part time advisor to the company until the end of the year and will remain on the board until spring.
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