San Francisco: Microsoft CEO Satya Nadella’s new salary package for the fiscal year 2019 will come around Rs.300 crores. This is after he earned a 66 per cent hike in the salary from the previous fiscal year.
A Microsoft announced that Satya Nadella has earned $42.9 million in total compensation for the fiscal year 2019. Nadella received a $1 million base salary jump and an increase in stocks. Praising Nadella’s activities in the company, Microsoft's independent directors in a proxy statement released on Wednesday said: "Nadella's strategic leadership includes his efforts to strengthen trust with customers, drive for a company-wide culture change, and successful entry and expansion into new technologies and markets".
When he took over from Steve Ballmer in 2014, Nadella took home $84.3 million which is the highest earnings in a fiscal year for him so far. "For fiscal year 2019, the annual total compensation for the median employee of the Company (other than our CEO) was $172,512," the company said.
"The past fiscal year offered another record year for financial performance, and Microsoft delivered strong results for our shareholders, including a return of $30.9 billion in the form of share repurchases and dividends," wrote the board of directors.
During the first five-year performance period, Microsoft's market capitalisation increased $509 billion (from $302 billion to $811 billion).
"Microsoft's relative TSR was in the 97th percentile, resulting in Nadella earning and vesting in the maximum 900,000 shares," the company said in the filing.
Microsoft's board of directors last month authorized another $40 billion in share repurchases and raised its quarterly dividend by 5 cents or 11 per cent to 51 cents a share. The company bought back $19.54 billion in shares last year. In the previous fiscal year, the buybacks was worth $10.72 billion - all under Nadella's tenure.