Harris makes cuts to board directors' compensation

US-- Harris Interactive's attempts to rein in costs have reached all the way to the top with non-employee directors of the company set to take a pay cut later this year.

The annual cash retainer each receives will be reduced from $41,500 to $35,000, while the additional compensation paid to the chairman of the board and lead director will be cut from $15,000 to just $5,000.

Chairs of both the audit committee and compensation committee will also see a reduction in their supplemental compensation, and the company has also tweaked the amount of restricted stock each non-employee director is entitled to.

Harris said the changes will “better align the compensation of the non-employee directors with the cost control initiatives undertaken by the company in response to the challenging global macroeconomic environment”. They take effect after the company's annual meeting in October.

CEO Kimberly Till has cut almost 150 jobs in the US since her appointment in October as she looks to return the business to profitability following a slump in revenue. A further 30 positions are set to go in the UK.

Author: Brian Tarran