Microsoft CEO Nadella asked for pay reduction after security slip, but total comp still rose 63%
Following cyberattacks from China and Russia, Microsoft CEO Satya Nadella asked for his pay to be reduced.
Microsoft gave CEO Satya Nadella a pay raise for the 2024 fiscal year of more than $30 million. But his total package would have been $5.5 million higher if not for a series of cyberattacks.
Nadella received $79.1 million for the fiscal year that ended June 30, up from $48.5 million in the prior year, according to a proxy filing Thursday. Most of his pay is in the form of stock. The board's compensation committee said Nadella asked that the cash incentive portion reflect the security issues.
The requested reduction came after the U.S. Department of Homeland Security in April published a report that followed an independent review of China's breach of U.S. government officials' email accounts. Microsoft disclosed that incident in July 2023.
In January, Microsoft said Russian intelligence had accessed some of the company's top executives' email accounts.
Microsoft said it would revamp its practices to address shortcomings highlighted in the government report, which said "customers would benefit from its CEO and board of directors directly focusing on the company's security culture."
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