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Microsoft CEO Satya Nadella Takes Rs 46 Crore Cut: Details
Microsoft Chairman and CEO Satya Nadella
Microsoft CEO Satya Nadella's salary cut highlights his commitment to growth and security, reducing his cash incentive by Rs 46 crore.
Microsoft's CEO, Satya Nadella, renowned for leading the company to significant growth, recently took a substantial pay cut in his cash compensation. According to a filing with the U.S. Securities and Exchange Commission (SEC), Nadella's total compensation for fiscal year 2024 saw a remarkable 63% increase, mainly due to stock awards, reaching approximately ₹665 crore. Despite this increase, Nadella voluntarily reduced his cash compensation, expressing concerns related to cybersecurity.
The filing revealed that Nadella reduced his cash incentive by Rs 46.26 crore. While he was initially set to receive $10.7 million in cash incentives, he opted for $5.2 million instead for 2024. This reduction reflects Nadella's focus on prioritizing long-term growth and stability over short-term earnings.
Breaking down his compensation for the fiscal year 2024, Nadella's package includes $71.2 million (about ₹600 crores) in stock awards, a base salary of $2.5 million (over ₹21 crores), and $170,000 (around ₹15 lakhs) from additional benefits. The significant stock awards highlight the company's confidence in Nadella's leadership.
Since he became CEO in 2014, Nadella has successfully transformed Microsoft, tripling its revenue to $245.1 billion and quadrupling its net income to $88.1 billion. His decision to reduce cash compensation while overseeing tremendous growth speaks to his strategic vision and dedication to long-term objectives for Microsoft's success.
