Thanks in part to the accelerated vesting of stock and option awards, MTM Technologies Inc. paid its former CEO $2 million in compensation last year.
The Stamford-based company installs and integrates various information technology systems. In its fiscal first quarter ending June 30, MTM lost $4.7 million on $67 million in revenue.
In its most recent fiscal year ending last March, MTM cut its work force 15 percent to 635 people, with cuts that included middle and senior management.
MTM has yet to name a CEO replacing Frank Alfano, who stepped down last April for unspecified reasons and who remains a paid consultant to the company. MTM is run by Steven Stringer, whose title is president and chief operating officer.
Westport-based Pequot Ventures controls 78 percent of the preferred stock of MTM, with Constellation Ventures holding the balance.
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