God damned ingrates. For all Marc Benioff has done for Salesforce.com, transforming it from a piece of shit, low level, retard tier software company, into a Madoff like profit making machine, shareholders don’t want him to have a lot of their money.
The board SLASHED his pay by 60%, from $33.4m to a paltry $13.2m, hardly enough to finance a proper yacht, to be stored, raced, and flaunted when summering in Newport, RI.
The board approved this draconian measure by 53% majority.
“After the 2016 meeting, we sought additional feedback from our stockholders,” the compensation committee said in the filing. “The two main themes we heard were that, notwithstanding recognition of the enormous contributions and leadership provided by our CEO, the overall magnitude of CEO pay remained high, and that it would be beneficial to expand’ the use of performance-related stock units for Benioff and other executives.
Poor Benioff only owns 5% of his companies shares — putting his net worth barely above $4b. Year to date, the stock is higher by 24% to all-time, record, highs, yet Marc’s compensation is down by 60%.
Hardly appropriate for a man of his stature.
This is what his leadership has produced over the years.
Good luck finding a replacement.
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Clearly Marc Benioff is not an elite CEO; otherwise his pay would be $1.00
https://tinyurl.com/bljt54m
“Madoff like profit making machine” LOL
Hi net worth is barely above 4 billion? Horror of horrors.
Ok, you’ve shown us the increase in the stock price so while you at it how about showing us the accumulated increase in GAAP earnings during this period of time while you’re at it. Or doesn’t that count anymore since $CRM just pays their key employees in stock options which usually get conveniently cashed out almost immediately all the while as $CRM continues to report operating earnings which surprise, surprise are ex the value of the stock options paid out as if the key employees somehow would be willing to work for free and that backhanded payout doesn’t count? Yes we know, most tech co’s do it so of course it’s legit.
Obviously no gym on site. You’d think he was a chef at a major restaurant with his outfit. But he’s not so he likes to eat and drink a lot and work 21 hour days. $4B and clearly no time for personal wellbeing. I bet he woke up and wanted more. His master’s at the board didn’t like that.
Salesforce makes overrated software that they market very well with their very “cool” culture. They got lucky during the recession which allowed them to steal Oracles customers for cheap subscription prices. They were also in the right place and got lucky with the cloud revolution. Some would say they created it I guess.
These types of tools that create and perpetuate a business process are for people that don’t know what the fuck they are doing. There must be a lot of them out there because these types of companies stay in business somehow. And I had to use $CRM in my previous job. It was shit. A make work software program that some sales guy pawned off on a Dow 30 company and now it’s in for ever.
Tech is Deep State fuckery. Hell is waiting.
Yes! How else do these few tech giants maintain their monopolies.
Sir Fly, I am not 100% sure you are being sarcastic in the post, but pretty sure you are.
Now he makes less than Giancarlo Stanton, who is overpaid. Life is not fair…or is it?