Xerox Poaches a CFO from ADT

ADT Corporation is losing a CFO, and Xerox (NYSE: XRX  ) is gaining one.

Xerox announced Thursday that it is poaching ADT Chief Financial Officer Kathryn Mikells to become its own new executive vice president and CFO. Mikells previously served as CFO at both Nalco and UAL Corporation; before that, she worked at GE Capital, Household International, and CIBC. She will take up her newest job at Xerox on May 2.

Xerox provided details on Mikells' compensation in a filing with the SEC. Upon taking up her new job, Mikells will receive:

  • A $1.2 million signing bonus payable over two years
  • $230,000 in compensation for an ADT bonus she will forgo by moving to Xerox
  • Annual salary of $700,000
  • An annual bonus target ranging from 0% to 200% of salary, and targeting 100%
  • $2.5 million worth of "Performance Shares" vesting three-years from date of grant, as part of the company's Executive Long Term Incentive Program
  • A one-time Restricted Stock Unit award with a value of $1,200,000, also vesting three years after grant

Xerox shares ended the abbreviated holiday trading week up 0.7% at $8.60.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2338051, ~/Articles/ArticleHandler.aspx, 12/24/2014 7:53:28 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement