and lawrie is still buying back shares with our money.
expect no salary increase or incentive in the next 5 years
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ML is a hypocrite he says he doesn't believe in merit increases , but the Board and Himself gets stock options for zero dollars and money as raises and bonus all the time. Worst company I ever worked for in my 40+ years in IT.
Why expect a pay increase? "Progressive companies no longer give pay hikes", remember?
They spent $2 billion on acquring luxsoft pushing their $6 billion of debt up to $8 billion.
I wouldn't read to much into cash-debt, as DXC has high equity to debt and its earnings before interest and tax (EBIT) is still 13.1%. However, in terms of low levels of cash, the reasons given by Mike were:
Luxsoft acquisition;
Delays in exiting resources in complex countries;
Timing of payments for software licenses and maintenance;
Real estate consolidation;
Timing of refresh programs;
Additional currency headwinds;
Near-term impact of delayed deal closings;
Slippage on transformation milestones; and
The alignment of the planets.
You can expect no increase regardless.
Good point - common practice for this to happen of CEO's to buy back shares to keep share price as high as possible and also reducing more costs from the business.