Marc Benioff’s right-hand man could make another $200,000 after Salesforce finally lets its top execs get raises againMarc Benioff’s right-hand man could make another $200,000 after Salesforce finally lets its top execs get raises again https://c-suitenetwork.com/wp-content/uploads/2018/02/marc-benioffs-right-hand-man-could-make-another-200000-after-salesforce-finally-lets-its-top-execs-get-raises-again.jpg 750 375 C-Suite Network https://c-suitenetwork.com/wp-content/uploads/2018/02/marc-benioffs-right-hand-man-could-make-another-200000-after-salesforce-finally-lets-its-top-execs-get-raises-again.jpg
- A year after Salesforce cut CEO Marc Benioff’s total pay and froze other top executives’ pay to appease shareholder complaints, the company has decided to loosen its purse strings.
- While Benioff isn’t getting a salary bump, several of his top officers are getting raises which impact their salaries and their bonuses.
- If Salesforce hits its cash flow and growth targets, COO Keith Block could take home $2.5 million in its 2019 fiscal year — $200,000 more than he could have previously.
A year ago, Salesforce made headlines when it gave its flamboyant founder, CEO Marc Benioff, a 60% pay cut and froze his salary and cash bonus in response to investor concerns that its executive pay and perks were excessive.
Other top Salesforce executives saw their salary and bonuses frozen for the cycle, too. The salary of cofounder and CTO Parker Harris was the same in Salesforce’s 2018 fiscal year as it was in FY17, the company has revealed in regulatory filings. The same is true for COO Keith Block, Benioff’s right-hand man and a former top-paid Oracle sales exec.
But Salesforce’s 2019 fiscal year just kicked off in February, and it’s ushered in a $100,000 raise each for Block and Harris, according to an SEC filing made on Friday afternoon. For his part, Benioff did not get appear to get a salary increase for FY2019.
Block previously drew a base salary of $1.15 million — and will now earn $1.25 million in FY19, according to the filing. Harris was bumped from $900,000 to $1 million, and CFO Mark Hawkins got an even bigger pay raise from $750,000 to $900,000,
These execs are still eligible for bonuses equal to 100% of their salaries,…