Shulou(Shulou.com)11/24 Report--

CTOnews.com, May 11 / PRNewswire-FirstCall-Asianet /-- Huang Renxun (Jen-Hsun Huang), president and CEO of graphics card maker Nvidia, could have earned nearly $25 million in the most recent fiscal year, but could not get the compensation because he failed to meet his financial target. The company's co-founder received a total compensation of $21.356 million in the 2023 fiscal year ended January 29 (CTOnews.com Note: currently about 148 million yuan), a few million dollars less than the highest possible salary and 10 per cent lower than the previous year.

Huang Renxun's salary includes a base salary of $996200, a stock award of $19.666 million, and $693700 in other compensation (security, life insurance, travel, etc.). Nvidia said the big boss did not get a full bonus because the performance failed to meet its targets. The company's revenue in 12 months was the same as last year, at $26.974 billion, while net profit was $4.368 billion, compared with $9.75 billion last year.

Nvidia is not the only industry facing post-epidemic demand changes, rising inflation and other challenges. The compensation data were included in a proxy statement disclosed by Nvidia this week. "FY2023 is a challenging year, with macroeconomic headwinds, channel inventory adjustment, COVID-19 epidemic and product structure transformation affecting many of our businesses," the statement said. As a result, we failed to meet the executive compensation targets set by the board of directors in terms of revenue and non-GAAP operating income in fiscal 2023. "

So how are other Nvidia executives doing? They also received less money than expected: CFO Colette Kress received $10.91 million with a full compensation of $11.99 million, and Away Puri, vice president of global operations, received $10.62 million, or $11.99 million. As for the wider workforce, the median salary is $229100, which means that CEO is paid 94 times the median salary.

Nvidia is urging all shareholders to vote for executive compensation for fiscal year 2023 and promises better opportunities in the future. "as we enter fiscal year 2024, we look forward to the launch of a new product architecture." and new opportunities from areas such as generative artificial intelligence, language models, Nvidia cloud services and digital. "

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