CRM News: Leadership: Convergys Chief Made $6M in 2007 as Profits Rose

For the 2007 fiscal year, Convergys earnings rose 2 percent to $169.5 million, or $1.23 per share, from $166.2 million, or $1.17 per share, in fiscal year 2006. Full-year revenue also grew 2 percent to $2.84 billion, from $2.79 billion in the prior-year period. Analysts surveyed by Thomson Financial forecast full-year earnings of $1.20 per share on revenue of $2.85 billion.

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Convergys (NYSE: CVG) Chief Executive David F. Dougherty received compensation valued at US$6 million in 2007, a year in which the call-center and billing services company saw profit rise 2 percent.

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Dougherty, who was appointed CEO in April 2007, drew a base salary of $710,000 and a performance-related bonus of $591,521 according to a regulatory filing Wednesday.

According to the proxy filed with the Securities and Exchange Commission, Dougherty also received options awards valued by the company at $4.6 million when they were granted.

Flying High

The proxy filing also showed Dougherty received private use of the company plane valued at $39,920.

The AP's total pay calculations include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.

The calculations don't include changes in the present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission.

Earnings Increased

Dougherty joined the company in 1990 and was appointed president and chief operating officer in 2005 before taking over as CEO when James Orr resigned last April.

For the 2007 fiscal year, Convergys earnings rose 2 percent to $169.5 million, or $1.23 per share, from $166.2 million, or $1.17 per share, in fiscal year 2006.

Full-year revenue also grew 2 percent to $2.84 billion, from $2.79 billion in the prior-year period.

Analysts surveyed by Thomson Financial forecast full-year earnings of $1.20 per share on revenue of $2.85 billion.

The company said revenue from customer management and human-resource management offset a decline in its information-management section.