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Asia Today ISSN 1861-4604 Monday, October 23, 2017

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Satya Nadella of Microsoft gets $84 mn pay package

One of the best paid people in the technology industry

Share on Facebook October 22, 2014, Reporter : BigNewsNet, Reader : 444

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Microsoft chief executive Satya Nadella has been given a pay package worth $84 million (EURO 66 million), making him one of the best paid people in the technology industry.

The package is largely made up of share awards which will be released over several years. In a regulatory filing, Microsoft said Nadella's appointment in February meant it was the first time its chief executive did not have a major stake in the company.

The company proxy statement, filed Monday with the Securities and Exchange Commission, showed Nadella's payouts included a salary of $918,917, a $3.6 million cash bonus and stock awards worth almost $80 million.

Microsoft said Nadella's actual compensation for the company's fiscal year 2014 is worth $11.6 million after excluding the long-term stock awards and a $13.5 million one-time retention award he received before his promotion to CEO, writes AP.

His predecessors, Bill Gates and Steve Ballmer, both had multi-billion dollar stakes in Microsoft.

"In approving the initial annual total compensation opportunity for Mr Nadella, our board was mindful of both the fierce competition for talented executives in the technology sector and the demands on and responsibilities of the leader of a global organization with the scope and stature of Microsoft," it said in the filing.

Nadella was named CEO in February and is only the third chief executive in the company's history.

Nadella had earlier this month suggested women should not ask for a pay rise because of bad karma, triggering a storm of protests. He apologized for his remark.

Addressing a women's computer conference earlier this month he suggested female executives shouldn't push for more money.

"It's not really about asking for the raise, but knowing and having faith that the system will actually give you the right raises as you go along," he said.

"And that, I think, might be one of the additional superpowers that quite frankly women who don't ask for raises have. Because that's good karma."

Nadella quickly apologized for his gaffe, adding that it was advice that he received as an up-and-coming executive.

On Monday he apologized again for those not-so-choice words. "The last week and a half or so have been a learning and humbling experience for me. I was wrong in the way I answered that one question," he told a public event in San Francisco, according to the FT.

His predecessor Steve Ballmer only earned around $16 million in total during 14 years in the top job, according to the FT.

Nadella's expected annual pay is $18 million, of which $13.2 million will be in stock.

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