REDMOND, Wash., Aug. 5 (UPI) -- U.S. software giant Microsoft Corp. named a senior Wal-Mart Stores Inc. executive as chief operating officer.
Kevin Turner, 40, will get a base pay of $570,000 per year, the Wall Street Journal reported Friday. He also will get a $7 million signing bonus and 320,000 shares of Microsoft stock. Those shares are worth, at Friday's prices, $8.7 million.
He also will be eligible for an annual bonus of as much as 100 percent of his salary and be allowed access to an incentive stock plan with a target award of 624,000 shares, based on his performance.
Turner will answer to Chief Executive Officer Steve Ballmer and be responsible for Microsoft's sales and marketing activities in place of Kevin Johnson, who will be named to "a new senior executive role," the company said.
Turner also will handle all Microsoft's fulfillment and information technology operations.
