Bruker Execs to Take Salary Cut in 2009
A few of Bruker’s top executives will take pay cuts in the range of 10 percent to 25 percent in 2009, the firm reported in a filing today with the US Securities and Exchange Commission. The 2009 salary for Bruker Chairman, President, and CEO Frank Laukien will decrease 25 percent to $318,750 from his 2008 salary of $425,000. CFO and Treasurer William Knight will receive a 2009 salary of $288,000, down 10 percent from his 2008 salary of $320,000. Brian Monahan, corporate controller and EVP of Bruker Daltonics, will receive a 2009 salary of $180,000, down 10 percent from his 2008 salary of $200,000. The firm said in the filing that the salary reductions were temporary, but it didn’t provide any other details. At the end of October, Bruker reported flat third-quarter revenue growth. During its Q3 conference call Laukien noted that beginning this past summer the firm began taking steps to reduce its operating and interest expense and reduce its exposure to currency fluctuations. “We expec...