Some complain about EMC chief's pay

(Photo courtesy EMC)

HOPKINTON

EMC Corp. chief executive Joseph Tucci's 2006 pay package cost his Hopkinton-based company $20.2 million in salary, bonus, and company stock, compared to $29.8 million in 2005, according to a proxy statement filed with federal regulators yesterday.

Tucci actually collected about $5.6 million for his work last year. Most of his compensation expense is due to accounting rules that charge the company at once for stocks and stock options that Tucci can only collect in future years.

Still, Tucci's lofty compensation didn't sit well with corporate governance critics, who say that the lackluster performance of EMC shares doesn't justify Tucci's income, the Globe business section reports today.

-- Hiawatha Bray