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NRI Nikesh Arora

NRI “Nikesh Arora” Named Second Highest-Paid CEO in USA

Los Angeles/May 23, 2024
NRIpress.club/Ramesh/A.Gary Singh

NRI "Nikesh Arora", the NRI CEO of Palo Alto Networks, secured the second spot on The Wall Street Journal's list of highest-paid US chief executives for 2023. Arora's compensation package, which heavily favored equity, amounted to $151.43 million last year. He trailed only Broadcom’s Hock Tan, who topped the list with $162 million in earnings.

Under Arora's leadership, the cybersecurity company has reported impressive financial performance, with nearly $5.84 billion in revenue and close to $2.22 billion in net income for the first three quarters of its fiscal year 2024.

Seventeen CEOs of Indian descent have been highlighted among the leaders of S&P 500 companies. One notable figure is Nikesh Arora, the CEO of Palo Alto Networks, who was educated at Air Force Public School in Delhi before moving to the US. Arora gained global prominence as Google's chief business officer and later moved to SoftBank in 2014 with a record-breaking compensation package in Japan.

Other distinguished Indian-origin executives on the list include Shantanu Narayen of Adobe (11th, $44.93 million), Sanjay Mehrotra of Micron Technology (63rd, $25.28 million), Ajei Gopal of Ansys (66th), Reshma Kewalramani (118th), Arvind Krishna of IBM (123rd), Badrinarayan Kothandaraman of Enphase Energy (135th), Sanjiv Lamba (143rd), Surendralal Karsanbhai (158th), Anirudh Devgan (172nd), Shankha Mitra (174th), Sumit Roy of Realty Income (268th), Satish Dhanasekaran (319th), Prahlad Singh (357th), Sundar Pichai of Alphabet (364th, $8.80 million), Udit Batra (367th), and Sundarrajan Nagarajan (389th).

Shantanu Narayen, born and raised in Hyderabad, has served as the CEO of Adobe since 2007, having joined the company in 1998. In 2023, notable tech leaders such as Elon Musk of Tesla and Sundar Pichai of Alphabet chose non-traditional compensation packages.

The Wall Street Journal's analysis examined hundreds of S&P 500 companies, ultimately ranking 415 CEOs based on their reported total compensation in 2023, which included both cash and equity awards. According to the analysis, the median compensation for S&P 500 CEOs increased by over 8% from the previous year, reaching $15.7 million in 2023.

 

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