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From Home Furnishing Business
Wayfair Co-Owners Slashed their Salaries in 2014
April 13,
2015 by in Financial Reports, Furniture Retailing, Industry 
Wayfair, the Boston-based online home furnishings retailer, may have generated more than $1 billion in sales last year, but its CEO took home only $80,000 in base salary.
Co-founders Niraj Shah, the CEO of Wayfair (NYSE:W), and Steven Conine, its chief technology officer, took home $80,000 each in salary — a $400,000 pay cut for each from the year before.
While a spokesman for Wayfair declined to comment, a regulatory filing on Friday made clear that the co-founders elected to have their salaries reduced.
Those salaries, however, don't include the value realized from prior-year equity awards, which was reported to be $885,403 for each last year. Conine and Shah each have a 28.9 percent stake in the company valued at about $636 million apiece.
Read Entire Story Source: Boston Business Journal