Symantec 2008 Annual Report Download - page 57

• Gregory W. Hughes, Chief Strategy Officer
• Janice Chaffin, Group President, Consumer Business Unit
We refer to the five executives above in some cases as our “continuing named executive officers, or NEOs.” In
addition, consistent with SEC rules and regulations, our named executive officers for fiscal 2008 include the
following two individuals who were no longer serving as executive officers as of the end of the year:
• Gregory S. Butterfield, Former Group President, Altiris Segment and Interim Group President, Data Center
Management Segment
• Thomas W. Kendra, Former Group President, Security and Data Management Segment.
The independent directors of the Board evaluate the CEO’s performance and the Committee then reviews and
recommends to the independent members of the Board all compensation arrangements for the CEO. After
discussion, the independent members of the Board approve the CEO’s compensation. The Committee also
discusses the performance of the other named executive officers with the CEO, reviews the compensation
recommendations that the CEO submits for the other named executive officers, makes any appropriate adjustments,
and approves their compensation.
The Committee retains Mercer, an outside consulting firm, to provide advice and ongoing recommendations
on executive compensation matters. Mercer provides the Committee with advice on executive and general
compensation matters, and the Compensation Committee oversees Mercer’s engagement. Mercer representatives
meet informally with the Committee Chair and the Chief Human Resources Officer and formally with the
Committee during the Committee’s regular meetings, including from time to time in executive sessions without any
members of management present. We have worked with Mercer since fiscal 2004, and paid them approximately
$220,000 for their services with respect to fiscal 2008.
The Committee establishes our compensation philosophy and approves our compensation programs and
solicits input and advice from several of our executive officers and Mercer. As mentioned above, our CEO provides
the Board and Committee with feedback on the performance of our executive officers and makes compensation
recommendations for the executives to the Committee for their approval. Our CEO, CFO, Chief Human Resources
Officer, and Vice President, Legal, regularly attend the Committee’s meetings to provide: their perspectives on
competition in the industry, the needs of the business, information regarding the Company’s performance, and other
advice specific to their areas of expertise. In addition, at the Committee’s direction, Mercer works with our Chief
Human Resources Officer and other members of management to obtain information necessary for Mercer to make
their own recommendations as well as to evaluate management’s recommendations.
FACTORS WE CONSIDER IN DETERMINING OUR COMPENSATION PROGRAMS
We apply a number of compensation policies and analytic tools in implementing our compensation principles.
These policies and tools guide the Committee in determining the mix and value of the compensation components for
our named executive officers. They include:
A Total Rewards Approach: Elements of the total rewards offered to our executive officers include base
salary, short- and long-term incentives including equity awards, health benefits, a deferred compensation program,
and a consistent focus on individual professional growth and opportunities for new challenges.
In determining the mix of these components and the value of each component, the Committee takes into
account the executive’s role, the competitive market, individual and Company performance, business unit per-
formance (where applicable), internal pay equity and historical compensation. Details of the various programs and
how they support the overall business strategy are outlined in “Compensation Components.” In making its
determinations with regard to compensation, the Committee reviews the various compensation elements for the
CEO and the other named executive officers (including base salary, target annual bonus, target and accrued award
payments under the Long Term Incentive Plans, and the value of all vested and unvested equity awards).
Focus on Pay-for-Performance: Our executive compensation program is designed to reward executives for
results. As described below, the pay mix for named executive officers emphasizes variable pay in the form of short-
43