The total compensation of Google Inc. CEO Eric Schmidt fell 52 percent last year as the Internet search leader cut back on its employee perquisites to help lift its profits during the recession.
Schmidt’s 2009 package totaled $245,322, down from $508,764 in 2008, according to documents filed Monday with the Securities and Exchange Commission.
The sharp decrease reflected lower bills for protecting Schmidt and flying his personal guests on jets chartered by Google.
Schmidt’s personal security cost Google $233,542 last year compared to $402,562 the previous year. Google spent $10,119 flying Schmidt’s friends and family in 2009 after shelling out $106,201 on air fare for his entourage in 2008.
By Schmidt’s request, Google limited his salary to just $1 for the fifth consecutive year. Google co-founders Larry Page and Sergey Brin also have insisted on keeping their salaries at $1 apiece during the same period, despite the company’s repeated offers to pay them more.
Read More: – by Michael Liedtke, AP Technology Writer