14 DAY TRIAL // Microsoft’s CEO Satya Nadella has received a cash bonus of no less than $4,464,000 for achieving all company goals in the last fiscal year, making a total of $17,692,031 during the year, including stock and other bonuses.
Microsoft’s board believes that Nadella is worth every cent because of the way the company performed under his leadership, but it turns out that the CEO could have made even more money than that.
According to a report from BI citing a SEC filing, the cuts that took place in the mobile unit reduced Satya’s bonus by 16 percent versus the previous year when he earned $18.3 million. Microsoft’s revenue for the fiscal year reached $91.5 billion, the filing reveals, “slightly below target,” as the board calls it.
Furthermore, Satya Nadella could have more money if Windows 10 was indeed installed on 1 billion devices by FY2018, but given the fact that the firm has already announced that it’s missing this goal, the change of plans reflected into CEO’s bonus too.
Drastic changes in the mobile unit
CEO Satya Nadella isn’t the only one who made millions of dollars last fiscal year, as CFO Amy Hood and President Brad Smith also scored big in this regard. They received 140 percent of their compensations, with Hood and Smith making $2,304,000 and $1,972,000 in bonuses, respectively, for a total of $10,374,630 and $8,610,612.
Without a doubt, Microsoft’s board is super happy with how the company performs with Satya Nadella at the helm, despite the somewhat controversial changing strategy that came into effect this year.
The mobile division was substantially impacted by the restructuring plans following the acquisition of Nokia’s Devices and Services, and thousands of people were laid off when the deal was completed.
Furthermore, Microsoft is planning even more changes in its mobile strategy, including a possible demise of the Lumia brand to turn the focus towards Windows 10 Mobile as a platform instead and just one device that could launch as Surface Phone.