Satya Nadella is all set to earn $79.1 million in the current financial year from his position as the CEO of Microsoft. This salary climbed 63 per cent in comparison to his earnings in the preceding year.
The businessman’s overall compensation for 2024 climbed to $79.1 million, including both cash and stock, Microsoft revealed. This amount includes a salary of $2.5 million and stock awards related to performance milestones worth $71.2 million, reported The Hindustan Times.
Notably, Microsoft has seen a major growth in its stock price since Nadella assumed the role of the CEO in 2014. However, Nadella also accepted a lower cash bonus for 2024 by $5.46 million as the company undergoes a challenging time and has had to cut down some of its workforce to manage.
These concerns were aggravated by a series of cybersecurity lapses which raised worries about the company’s security measures. The tech giant revealed that Nadella’s bonus was initially $10.66 million, however, it was slashed to $5.2 million at the executive’s request.
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In its official filing, the company revealed, “Since the board of directors appointed Mr Nadella as the third chief executive officer in its history in 2014, Microsoft has nearly tripled revenue to $245.1 billion, nearly quadrupled net income to $88.1 billion, and more than quadrupled diluted earnings per share to $11.80.”
“In addition to another year of consistently strong financial performance, Mr Nadella and his leadership team have positioned Microsoft to continue to drive performance for years to come,” Microsoft said noted.
On the matter of reducing the CEO’s bonus, the company earlier said that the decision was taken at Nadella’s request reflecting his ‘personal commitment to security and his role as the CEO’. Microsoft shared that he “asked the board to consider departing from the established performance metrics and reduce his cash incentive to reflect his personal accountability for the focus and speed required for the changes that today’s cyber security threat landscape showed were necessary.”