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  • 04.13.16

Salesforce CEO Marc Benioff takes pay cut

The company’s latest proxy statement revealed that its CEO took a 16% pay cut last year, reports Fortune. For its fiscal 2016 year Benioff earned $33.4 million, which included a base salary of $1.55 million and an additional bonus of $3.1 million. The rest was made up of restricted stock grants. Though $33.4 million is nothing to sneeze at, it’s still 16% less than his total package for fiscal 2015.

Salesforce says it expects Benioff’s base salary and target bonus to remain the same for fiscal 2017 even though the company expects to earn $8 billion in revenue for 2017—up $1.3 billion from 2016. Another little compensation gem from the proxy report: Salesforce spent $1.4 million in fiscal 2016 on security for Benioff during his business trips.MG