Microsoft CEO Satya Nadella has been a key component in the company's surge, growth, and success over the last eight years. During his 8-year-and-counting tenure, Nadella has taken Microsoft out of uncertainty and the company is now thriving. That is why the company is rewarding him further with a 10% pay increase this year.
While Nadella's base salary is still $25 million, his stock awards have increased from $33 million to $42.2 million. Other areas of Nadella's earnings have also been declared in Microsoft's latest Proxy 2022 Statement.
It shows the CEO's Non-equity incentive plan compensation fells from $14.2 million last year to $10.6 million this year. In total, Nadella is getting a $55 million package, which the company says is 96% performance-based (up from 71% the year previous).
Nadella is getting rewards for Microsoft continuing to show consistent financial performance. At the close of its Fiscal 2022 on June 30, the company announced yearly revenues of $198.3 billion. However, not even Microsoft is escaping the economic downturn.
Economic Slip
In its Fiscal 2023 First Quarter earnings, the company reported a rare drop in income year-on-year, although revenues still grew.
While Microsoft will – like all companies – need to tread carefully during economic uncertainty, the company is better positioned than most to ride it out. And much of that ability comes from the strategies put in place by CEO Satya Nadella. Most notably, his mobile-first, cloud-first approach to the company's products.
Microsoft says his payment this year is because shareholders want to ensure he remains CEO.
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