Following cyberattacks from China and Russia, Microsoft CEO Satya Nadella asked for his pay to be reduced.
Microsoft CEO Satya Nadella asked for a reduction in the cash incentive portion of his pay after a security incident that prompted criticism from the U.S. government.Microsoft CEO Satya Nadella speaks at an event on the company's Redmond, Washington, campus on May 20, 2024. Nadella is betting a new generation of computers with specialized artificial intelligence chips and faster performance will revive the long-running rivalry between Windows PCs and Apple Inc.'s Mac.
Nadella received $79.1 million for the fiscal year that ended on June 30, up from $48.5 million in the prior year, according to afiling on Thursday. Most of his pay is in the form of stock. The board's compensation committee said Nadella asked that the cash incentive portion reflect the security issues.In January of this year, Microsoft said Russian intelligence had accessed some of the company's top executives' email accounts.
"Mr. Nadella agreed that the Company's performance was extremely strong, but reflecting on his personal commitment to security and his role as the CEO, 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 cybersecurity threat landscape showed were necessary," the committee wrote.
Microsoft's security business generated over $20 billion in revenue in 2022, more than total revenue for many security companies.
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