FYI, Martin Schroeter (according to the executive compensation documents) is the only executive in Kyndryl who can use company jets and cars for personal reasons. If he wants to go to the Bahamas for a weekend, he can do it and Kyndryl has to eat the cost.
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Wow look at all the a-s kissing in favor of Martin's Jet use. I agree with one post that clearly stated the truth. Compensation at that level for any corporate head is ridiculous. I also ask why are the worker drones giving such support to Martin and the board. As a Kyndryl worker, I am fully aware they are actively and seditiously. Plotting in numerous way to eliminate my job with cheaper off shore labor or some innovative way to use AI. I only stay because I am paid handsomely for my skills here at Kyndryl. I by no means have any loyalty to this s-hole of a company. I put in only the minimum I am required to keep my paycheck.
Martin is not a smart man, and neither is he a good man. He doesn't deserve his pay (which is about 450x that of the average employee) or private jets. He is a secretive uninsperational bean counter involved in multiple lawsuits for cooking the books. Any mid-level manager from engineering would do a better job than Schroeter.
Substitute a $20M CEO with a bunch of young and hungry $1M people? Go read "The Mythical Man Month" and then see if that idea still makes sense...
If his contract includes the jet, then so be it. The real question is why do CEOs' standard contracts not just include such perks, but also x millions in compensation. And in the U.S many more times the average salary than in MOW. Are they really worth that to the stockholders? Instead of paying someone $20M a year as a "competitive" CEO salary, could we not find a dozen bright, young folk who can would gladly do the job - probably better - for $1M a year? The standard compensation is just way out of line.
Glad to see there's actually some level headed people on here, not automatically assuming the worst.
This is a standard perk to attract executive talent. Probably most Fortune 500 companies have something similar for their CEOs. It is pretty much required to stay competitive at that level and people should be happy it's not extended to other C-Level execs to be honest. To me this is a actually restraint on Kyndryl's part.
Workers now days are just pigs at a trough. They eat whatever slop corporate America gives them. Truism for sure at Kyndryl, damn shame workers in this country just became weaker and sadder place holders.
It is a joke, at how much the top management takes away in compensation and perks.
Regardless who sits in the CEO, seat. The real fact of the matter is it is a created perk. I see the responses mostly favor or justify why there is a jet available to the CEO. Do you, the worker get it. That jet is just one more dollar of compensation you will not get, one more reason why you are where you are and where they want you. It just amazes me that so many workers defend the excess's of our upper echelon of management.
It doesn't matter what the reason is, whether it's corporate security or a personal vacation in Tahiti. The bottom line is that the board of directors approved the jet per his contract, just like they would undoubtedly approve the jet for anyone who took the CEO spot.
It's like coffee and donuts for cops...it comes with the job.
For security reasons he is given access to a jet. That is such b/s, nobody outside of this company even knows who this guy is. Once again a company endorsed response to genuine employee outrage. Nobody in American will ever run up to Martin and ask him for his autograph, never gonna happen. Anonymity is it's own best security. Stop blowing smoke up our keester's.
This is a standard perk -- the details are in the 2024 Proxy Statement on page 48:
We permit Mr. Schroeter, but not any of the other Named Executive Officers (NEOs), to fly on a Company-provided aircraft for personal travel in an amount limited to an aggregate incremental cost to the Company of $200,000 per calendar year. We provide this benefit to Mr. Schroeter for security purposes, so he can use his travel time more productively for the Company and to ensure that he can be immediately available to respond to business priorities.
https://investors.kyndryl.com/static-files/09393fce-919f-49e2-b27c-bb910112b487
@rby+1ulv9nK3 Hi Martin. I'm glad you enjoy using that jet, but we do have a he-l of a lot of debt...
Amen!!!
This is in response to ( @rby+1u1v9nk3 ) all I hear is a kissing sound. Disengage lips from the corporate a-s cheeks.
Your such a rube. It is just another way they set themselves apart from us. You will come to quickly realize this fact. If your are one of the rank and file like the rest of us. That perk Martin enjoys comes at the expense of your job and mine, when the numbers stop adding up.
It's easy to throw rocks at Schroeter for a lot of things, but the company jets and cars are his to use per agreement with the BOD. Rank and file employees may be jealous, but they aren't the CEO are they?
Company-owned transportation is a perk of being a high-ranking executive. This is true for big corporations, just as it is true of the local tradesmen who work on houses among other things. It's one of the benefits of running the business.