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NVIDIA's co-founder and current CEO Jensen Huang will be receiving a slightly reduced salary this year, due to his company not meeting some financial goals. Team Green has published their report for the financial year of 2023, and several tech news outlets have been poring over the details - The Register was the first to spot that the intrepid leather jacketed leader was not being as handsomely compensated (when cross-referenced with previous FY results). Huang's pay has been cut by almost $2.5 million, so a 10% fall from before - given that he is already a billionaire, going into double digits, this verdict is a minor sting to the proverbial (matching leather?) wallet.
The company's annual review (for FY 2023) document provides a reason for select executive pay cuts: "Fiscal 2023 was a challenging year, with macroeconomic headwinds, channel inventory corrections, COVID-19 and product architecture transitions affecting several of our businesses. As a result, our Fiscal 2023 revenue and non-GAAP Operating Income performance fell short of the CC's (compensation committee's) pre-established goals for executive compensation." Huang will not be hurting too much from the small pay cut since he is set to earn $21.356 million in total, thanks to generous stock awards and miscellaneous benefits outside of his base salary (now a mere $996,216). NVIDIA is expected to rake in even more cash across the coming year, or two, due to growing interest in artificial intelligence (AI) processing. Tech companies are snapping up NVIDIA's enterprise-grade H100 GPUs in anticipation of an AI-powered future.
View at TechPowerUp Main Site | Source
The company's annual review (for FY 2023) document provides a reason for select executive pay cuts: "Fiscal 2023 was a challenging year, with macroeconomic headwinds, channel inventory corrections, COVID-19 and product architecture transitions affecting several of our businesses. As a result, our Fiscal 2023 revenue and non-GAAP Operating Income performance fell short of the CC's (compensation committee's) pre-established goals for executive compensation." Huang will not be hurting too much from the small pay cut since he is set to earn $21.356 million in total, thanks to generous stock awards and miscellaneous benefits outside of his base salary (now a mere $996,216). NVIDIA is expected to rake in even more cash across the coming year, or two, due to growing interest in artificial intelligence (AI) processing. Tech companies are snapping up NVIDIA's enterprise-grade H100 GPUs in anticipation of an AI-powered future.
View at TechPowerUp Main Site | Source
