CMGI Chief Executive Will Cut Salary to $1

David S. Wetherell, chief executive of Internet holding firm CMGI Inc., will cut his salary to $1 in the current fiscal year, the firm said. The voluntary cut is a response to the firm’s “current state of unprofitability.” CMGI, which runs Internet firms such as AltaVista Co., lost $5.45 billion last year. CMGI shares rose 16 cents to $2.62 on Nasdaq.