Microsoft boss gets 63% pay rise despite asking for reduction

[Pelican Press 0]

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boss gets 63% pay rise despite asking for reduction

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’s chief executive Satya Nadella earned $79.1m (£61m) last year, a rise of 63% compared to his compensation the year before.

That was despite a request from Mr Nadella to reduce one element of his pay package because of cybersecurity flaws at the tech giant – which resulted in him getting $5m less than he otherwise would have.

In common with many tech firms,

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has cut thousands of jobs this year, including many in its

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But in a

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filed with the US financial regulator, the board said the company’s revenue grew by 16% in the year to 30 June 2024.

“Mr. Nadella agreed that the Company’s performance was extremely strong,”

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’s compensation committee wrote in a letter to shareholders.

It added he asked them “to consider departing from the established performance metrics and reduce his cash incentive to reflect his personal accountability” over a number of cyber attacks.

One such ******* was

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in July 2023 by

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, where hackers gained access to the email accounts of around 25 organisations, including government agencies.

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said the ******* originated in China, though the ******** embassy in London called this “disinformation”.

The fiscal ******* runs up to 30 June 2024 – just weeks before the

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which affected

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Windows PCs, causing chaos around the world.

While that was not a cyber *******, later in July

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apologised for

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which was caused by a cyber *******.

The compensation committee said it reduced Mr Nadella’s cash pay by more than half, to $5.2m.

That represents less than 7% of his total pay.

The bulk of his pay, $71.2m, was made up of stock options.

High Pay Centre director Luke Hildyard said “superficially” the earnings made sense given

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’s strong financial performance.

“However, we might also ask whether the extra $79 million on top of $49 million last year for someone who is already worth hundreds of millions, with more money than they could spent over multiple lifetimes of absolute luxury, is really necessary as a reward of incentive,” he told the BBC.

“None of

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’s success would be possible without workers, customers and wider society so perhaps the proceeds of that success should be share a little more evenly,” he added.

Elsewhere in big tech, Apple boss Tim Cook earned $63.2m in 2023, while the chief executive of the world’s most valuable company Nvidia, Jensen Huang, was paid $34.2m in the 2024 fiscal year.

But none of them come close to Tesla boss Elon Musk, whose pay packet could be worth

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#

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#boss #pay #rise #reduction

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