Microsoft CEO Satya Nadellla’s $84 million pay package has been approved by shareholders. Nadella who has been with Microsoft for 22 years, held the position of Executive Vice President of Microsoft’s Cloud and Enterprise group before he was appointed CEO in February this year.
In his previous role his total compensation for 2013 came in at $7.6 million. Talk about a pay rise!
Here is a breakdown of the $84 million package:
- Base salary: $918,917
- Bonus: $3.6 million
- Stock Grants: $79.8
The package will not continue at this level though since $59 million of the stock package was issued for the promotion to the CEO position. Aside from performance related bonuses, Microsoft has already announced that Nadella will receive stock valued at $13 million next year.
Microsoft has had a strong year, the stock price has gone up 30% and the latest quarter showed growth across the board. Shareholders have a positive view of the strategy under Nadella however a lot of the growth comes from decisions made under former CEO Steve Ballmer. That being said, the cloud business grew 128% year over year, the business unit Nadella ran before he became CEO.