Bob Scott reporting in his monthly Insights column on NetSuite’s financial success being shared by the Executives.
If people have wondered what the NetSuite board thinks of the company’s growth strategy, all they have do is read the annual proxy. I think we can say executives will be in a good mood when the cloud company’s SuiteWorld conference convenes next week in San Jose, Calif. Named executives saw compensation for 2014 skyrocket as the company rewarded them with stock awards that more than double their 2013 totals. CEO Zach Nelson received $31.6 million in compensation last year, up from $12.5 million in 2013 with a stock award of $28.3 million providing the push in the most recently completed year. That compared to an award of $9.8 million the prior year. Chief technology officer Evan Goldberg saw his compensation rise to $16.6 million for 2014, compared to $5.3 million the prior year, aided by a $14.9 million stock award. His 2013 stock award total was valued at $4.2 million. COO James McGeever made $18.8 million, up from $8.7 million as he received a $15.5-million stock award, up from $6.5 million the prior year. CFO Ron Gill earned $11.2 million last year, compared to $4.6 million in 2013. He had a 2014 stock award of $9.7 million; $3.4 million in that category in 2013. Marc Huffman, president of worldwide sales and distribution, earned $5.4 million in his first year as a named executive on the strength of a $3.9-million award. Since he was not a named executive in prior years, NetSuite does not need to report his compensation. Huffman was promoted in May 2014.