John Donahoe, president and chief govt officer of Nike Inc., noticed his pay bundle fall by 11 % final yr — however nonetheless scored massive with complete compensation of $29.2 million.
However solely a fraction of that was take dwelling pay.
Donahoe acquired a wage of $1.6 million and incentive pay of $2 million for fiscal 2024, ended Could 31.
The majority of his compensation got here within the type of inventory and choice awards, which have been valued at a mixed $19.2 million once they have been first granted. However their full worth can be decided by how Nike shares carry out, a arrange meant to hyperlink the fortunes of the CEO with these of stockholders.
Donahoe, who has been Nike CEO since 2020, additionally gave massive final yr. Included in his compensation is $6.3 million in matching charitable contributions made by the corporate.
Nike, which is able to step into the highlight with athletes across the globe on the Paris Olympics this week, has hit one thing of a tough patch recently.
However Donahoe assured analysts this month that the corporate is “taking our challenges head on and we’re regaining our edge” and doubling down on product innovation.
The corporate continues to be far and forward the chief within the sport house with gross sales up 10 % to $51.2 billion final yr.
Nike’s pay program was detailed to regulators in Nike’s proxy assertion, which units the agenda for the corporate’s annual assembly on Sept. 10.
Whereas most annual conferences are comparatively fast and simple affairs, signing off on an auditor and appointing administrators, Nike — as high-profile powerhouse within the style house — attracts extra consideration than most.
The annual assembly is scheduled to incorporate on plenty of shareholder proposals on matters starting from a supplemental pay fairness disclosure, a provide chain administration report, worker-driven social accountability, environmental targets and a divisive partnerships report that will look into Nike’s connections to teams deemed to be “evangelizing radical gender ideology to minors.”
Nike’s board opposes the entire shareholder proposals.
