Microsoft this morning announced that it hired a new chief accounting officer, Frank Brod, formerly controller at Dow Chemical.
It wasn’t in the press release, but the company lured Brod with a cash and stock deal worth more than $2 million. He’s getting a $411,000 a year salary plus a $300,000 signing bonus. He’s also getting 35,000 shares of stock – worth $947,450 at today’s closing price – that will vest over five years.
But that’s not all. Under Microsoft’s executive relocation program, the company will arrange the purchase of Brod’s two homes if they don’t sell “as of a mutually agreed date.” Brod’s also getting a $450,000 relocation allowance, which should be enough to buy a fixer-upper in Renton.
Brod replaces Scott Di Valerio, who moved over to head Microsoft’s sales and marketing to PC makers. In February Microsoft announced that CFO Chris Liddell would also serve as chief accounting officer, but that apparently didn’t last long.
Brod’s a player in the corporate accounting world, where he serves on several standards committees. At Microsoft he’ll be responsible for corporate controller functions, corporate services, and financial planning and analysis.
We’ll call him the Scrubbing Numbers guy, after Dow’s Scrubbing Bubbles cleaning product.