Microosft CEO Satya Nadella got a decent pay rise in 2024 - despite actually asking for less

Date:
Fri, 25 Oct 2024 10:03:40 +0000

Description:
Satya Nadella asked Microsoft committee for a pay reduction after earning $79.1 million in 2024 63% more than last year.

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Microsoft CEO Satya Nadella took home $79.1 million in 2024, marking a 63% increase compared with the previous year, reports have claimed - despite actually requesting a reduction in his pay.

Despite his substantial compensation package, Nadella had requested a reduction in his cash incentive, following a number security challenges affecting the company recently, which had led to a Microsoft commitment to link executive pay to security outcomes .

In response, the Microsoft board agreed to reduce Nadella's cash incentive to $5.2 million, marking a more than 50% reduction from the $10.7 million sum he was initially eligible for. Satya Nadella got a $79 million pay packet in
2024

The Board reviewed the Companys performance and firmly believes that Mr. Nadella provided exceptional leadership and was both critical in achieving
the extremely strong performance of the Company and personally responsible
for the ongoing repositioning of its investments and priorities," an extract in a letter from the Microsoft Compensation Committee read.

"It also considered the factors that Mr. Nadella raised in requesting a reduction of his cash incentive and concluded that such an adjustment was appropriate.

While part of this multimillion-dollar sum came in the form of pay, Nadellas stock alone, expected to account for around $71 million, made up a major part of his earnings, according to a company filing.

At the beginning of the 2024 calendar year, Microsoft became one of the now three tech companies to reach a $3 trillion market cap after it became a $2 trillion company in 2021.

In its final financial year quarter, ending June 30, Microsoft drew in $64.7 billion in revenue, bringing its annualized revenue to $245.12 billion, up from the $211.92 billion in revenue it made the year before. The tech giants share price also rose by 31.2% in its most recent full year.

Our strong performance this fiscal year speaks both to our innovation and to the trust customers continue to place in Microsoft," Nadella said at the
time.

Via Reuters More from TechRadar Pro Weve rounded up a list of the best AI tools Want a bigger cheque? Check the best job sites and best recruitment platforms Nvidia could be about to knock Apple off the top spot for most valuable company



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Link to news story: https://www.techradar.com/pro/microosft-ceo-satya-nadella-got-a-decent-pay-ris e-in-2024-despite-actually-asking-for-less


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