The boss of Microsoft, Satya Nadella has got a pay cut of 3.3% on his 2016's annual salary, compared to his previous year take-home. The Hyderabad-born Nadella, who's lived up to expectations, took home $5.6 million in terms of salary and a $12 million worth stocks. While Microsoft's total yielding has improved by stunning 70 percent since Nadella took over the company in February 2014, the shares of company have been steeped by 15 percent in last 12 months
According to a preliminary proxy statement, half of those shares will vest in 2018 if the tech giant reaches the prior-set targets in terms of revenue, operating income and a number of commercial cloud subscribers and if the company's stock surpasses 60 percent of companies in the Standard & Poor's 500 Index, the rest of the stocks will vest in full by 2019.
However, the official spokesperson of Microsoft Pete Wootton has declined to comment on the pay cut of Satya Nadella. Recently, Microsoft's second top paid official Kevil Turner, the chief operating officer left job in July this year. Currently, the company's executive Vice President and Chief Financial Officer Amy E Hood stands next to Satya who's getting paid $10.37 million
Ever since Nadella took over Microsoft, he has been largely focusing on cloud-computing along with artificial intelligence. During his India's visit, the CEO met PM Narendra Modi and extended the company's support in major government oriented services.