Microsoft CEO Satya Nadella speaks at an event on the company’s campus in Redmond, Washington, on May 20, 2024. Smart chips and a new generation of faster computers will reignite the long-standing rivalry between Windows PCs and Apple Inc.’s Macs.
Jonah Kassinger | Bloomberg | Getty Images
Microsoft Chief Executive Satya Nadella received a salary increase of more than $30 million in fiscal 2024. But if not for a series of cyberattacks, his total would have been $5.5 million higher.
According to the financial report, Nadella received $79.1 million in the fiscal year ended June 30, up from $48.5 million last year. agent Filed Thursday. Most of his salary is in the form of stock. The board’s compensation committee said Nadella’s request for cash bonuses reflected safety concerns in part.
The U.S. Department of Homeland Security released a report in April following an independent review of China’s breach of U.S. government officials’ email accounts. Microsoft disclosed the incident in July 2023.
In January, Microsoft said Russian intelligence services had accessed the email accounts of some of its top executives.
Microsoft said it would improve its practices to address deficiencies highlighted in the government report, which said “customers will benefit from direct attention from its CEO and board of directors to the company’s security culture.”
Nadella responded by telling employees in a statement May Memo Microsoft puts security first. In June, Microsoft said it would consider employees’ cybersecurity efforts when determining employee pay.
The cash incentive component of Nadella’s compensation primarily takes into account the software maker’s performance relative to revenue and operating income targets. The original plan was $10.66 million, but the full board approved a $5.2 million cash incentive.
“Mr. Nadella agreed that the company’s results were very strong, but given his personal commitment to safety and his role as CEO, he asked the Board to consider departing from established performance metrics and reducing his cash incentives to reflect his personal Responsibility Today’s cybersecurity threat landscape demonstrates the focus and speed required for change,” the committee wrote.
Microsoft’s security business generated more than $20 billion in revenue in 2022, exceeding the total revenue of many security companies.
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