Microsoft CEO Satya Nadella speaks at an event at the company’s Redmond, Washington campus on May 20, 2024. Nadella is betting that a new generation of computers with specialized artificial intelligence chips and faster performance will revive the long-standing rivalry between Windows PCs and Apple. Inc.’s Mac.
Chona Kasinger | Bloomberg | Getty Images
Microsoft He gave the CEO Satya Nadella More than $30 million in salary increases for fiscal year 2024. But his total package would have been $5.5 million higher had it not been for a series of cyberattacks.
Nadella received $79.1 million for the fiscal year ended June 30, up from $48.5 million a year earlier, according to one. proxy filing on Thursday. Most of his salary is in the form of shares. The board’s compensation committee said Nadella requested that portions of the cash incentives reflect safety concerns.
The requested reduction came after the US Department of Homeland Security in April published a report Following an independent review of China’s breach of US government officials’ email accounts. Microsoft make it known What happened in July 2023.
In January of this year, Microsoft said that Russian intelligence accessed the email accounts of some of the company’s top executives.
Microsoft he said It would revamp its practices to address deficiencies highlighted in the government report, which said “customers would benefit from having their CEO and board of directors focus more directly on the company’s safety culture.”
Nadella responded by telling employees a Memory of May That Microsoft would prioritize security above all else. In June, Microsoft he said will consider employee cybersecurity efforts when determining compensation.
The cash incentive portion of Nadella’s pay takes into account the software maker’s performance, primarily in terms of revenue and operating income goals. It was originally set at $10.66 million, but the full board approved a cash incentive of $5.2 million.
“Mr. Nadella agreed that the Company’s performance was very strong, but in light of his personal commitment to security and his role as CEO, he asked the Board to depart from established performance measures and reduce his monetary incentives to reflect his personal responsibility. Showing today’s cybersecurity threat landscape The attention and speed required for the changes involved were necessary,” the committee wrote.
Microsoft’s security business is expected to generate more than $20 billion in revenue by 2022, more than the revenue of many security companies.
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