EMC CEO To Stay Through At Least 2015
Tucci
EMC Corp.'s board of directors has entered into an amended employment agreement with CEO Joseph M. Tucci, to continue his employment at the Hopkinton-based data storage company through at least February 2015, according to an 8-K form filed Sept. 6.
Tucci will likely transfer his position as CEO to a successor prior to that date and assume the role of chairman of both EMC and VMware Inc., which EMC owns, according to the company. He had planned to retire this year, but previously delayed those plans until 2013.
As compensation, the board granted Tucci $8 million in performance restricted stock units which will be vested if Tucci meets certain job performance targets, the company said. Tucci earned a total of $13.2 million in 2011, including salary, incentives, and option and stock awards.
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