Novell raises CEO's salary to $825,000

Novell Inc. said today it increased chief executive Ronald W. Hovsepian's salary to $825,000, retroactive to his promotion to the post in June.

The Waltham corporate software firm also increased Hovsepian's target bonus to 125% of his annual base salary, according to a filing with the Securities and Exchange Commission. Hovsepian's target bonus before his promotion in the fiscal year ended Oct. 31, 2005, was 100% his base salary.

Hovsepian took over the CEO job from ousted former CEO Jack Messman, who was paid $950,150 in salary in the company's 2005 fiscal year.

Hovsepian previously was paid $500,020 in salary as chief operating officer and president during the 2005 fiscal year. He retained his title of president after his promotion to chief executive. (Dow Jones Newswires)