ASML Will ‘Fundamentally’ Review Executive Remuneration
The Supervisory Board will consider the policy “in light of the strategy, business model and senior management compensation of ASML moving forward,” the Veldhoven, Netherlands-based company said in its remuneration report.
For 2011, Chief Executive Officer Eric Meurice’s total pay was 2.79 million euros ($3.67 million) while Chief Financial Officer Peter Wennink’s was 1.65 million euros. Meurice’s base salary was 787,000 euros and he received about 2 million euros in bonuses and other compensation.
ASML projected six-month sales at about 2.4 billion euros, in a “healthy start” to the year, Meurice said Jan. 18, after fourth-quarter earnings beat analyst estimates. Customers’ new products, such as tablets and smartphones, have bolstered sales at ASML, which makes machines that produce chips for Nokia Oyj (NOK1V)’s mobile phones and Apple Inc. (AAPL)’s iPads.
ASML climbed 0.9 percent to 34.43 euros at 9:29 a.m. in Amsterdam. The stock has risen 5.7 percent in the past year, giving the company a market value of 14.8 billion euros.
To contact the reporter on this story: Maaike Noordhuis in Amsterdam at email@example.com
To contact the editor responsible for this story: Kenneth Wong at firstname.lastname@example.org
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.