BENGALURU: IBM chairman & CEO Arvind Krishna earned $16.5 million in overall reimbursement in 2022, $1 million much less in comparison to 2021, as consistent with regulatory filings.
Krishna’s base wage remained the similar at $1.5 million and he were given $8.9 million in inventory awards and $2 million in choices. The ratio of the CEO’s annual overall reimbursement to that of the median worker’s annual overall reimbursement is 271:1. The reimbursement was once $61,242 for the median worker.
The submitting mentioned that for 2023, the board made no adjustments to Krishna’s base wage or goal annual incentive, which was once slightly under the median goal money reimbursement of the 2023 benchmark team (of CEOs in equivalent corporations). “He was once granted an annual long-term incentive award valued at $17 million, which is the primary building up since Mr Krishna was CEO in 2020, and in keeping with the median of the 2023 benchmark team…For 2023, 77% of Mr. Krishna’s annual overall goal reimbursement is in danger and matter to fulfillment of rigorous efficiency targets and IBM’s inventory value efficiency,” the statement said.
In 2022, IBM grew 11% to $60.5 billion in revenue, and generated $10.4 billion in cash from operations. Its software revenue grew 12% year-on-year, while its hybrid platform and solutions grew 9%, including red hat at 17%. Consulting revenue grew 15%.
“In the past year, we took decisive steps to build a stronger IBM and helped our clients turn business challenges into opportunities. The market recognizes hybrid cloud and AI as the two most transformational technologies of our time and, for clients, they serve as fundamental sources of competitive advantage. Our consulting teams have brought these technologies to life for our clients to accelerate their digital transformations and enterprise automation journeys. We also continued a steady pace of acquisitions to bolster our portfolio, delivered innovations in infrastructure, strengthened our software portfolio, streamlined our go-to-market strategy, and expanded our ecosystem of partners,” Krishna mentioned in a letter to shareholders.
Krishna’s base wage remained the similar at $1.5 million and he were given $8.9 million in inventory awards and $2 million in choices. The ratio of the CEO’s annual overall reimbursement to that of the median worker’s annual overall reimbursement is 271:1. The reimbursement was once $61,242 for the median worker.
The submitting mentioned that for 2023, the board made no adjustments to Krishna’s base wage or goal annual incentive, which was once slightly under the median goal money reimbursement of the 2023 benchmark team (of CEOs in equivalent corporations). “He was once granted an annual long-term incentive award valued at $17 million, which is the primary building up since Mr Krishna was CEO in 2020, and in keeping with the median of the 2023 benchmark team…For 2023, 77% of Mr. Krishna’s annual overall goal reimbursement is in danger and matter to fulfillment of rigorous efficiency targets and IBM’s inventory value efficiency,” the statement said.
In 2022, IBM grew 11% to $60.5 billion in revenue, and generated $10.4 billion in cash from operations. Its software revenue grew 12% year-on-year, while its hybrid platform and solutions grew 9%, including red hat at 17%. Consulting revenue grew 15%.
“In the past year, we took decisive steps to build a stronger IBM and helped our clients turn business challenges into opportunities. The market recognizes hybrid cloud and AI as the two most transformational technologies of our time and, for clients, they serve as fundamental sources of competitive advantage. Our consulting teams have brought these technologies to life for our clients to accelerate their digital transformations and enterprise automation journeys. We also continued a steady pace of acquisitions to bolster our portfolio, delivered innovations in infrastructure, strengthened our software portfolio, streamlined our go-to-market strategy, and expanded our ecosystem of partners,” Krishna mentioned in a letter to shareholders.