- The founder and CEO of software company Begum was the highest paid executive in the United States by 2020.
- His company provides HR software based on cloud services to approximately 31,000 companies.
- Since its IPO in 2014, Begum’s stock has outperformed other software companies listed on the S&P500.
Chad Richsen, no?
According to the newspaper The New York Times, Listing the rewards for U.S. CEOs, said the CEO of software company Becom earned more last year than JPMorgan Chase, the CEO of Amazon, Netflix or major bank.
CEO Chad Richeson’s compensation package reached $ 211 million by 2020.
Becom is an Oklahoma City company that provides cloud-based HR software to approximately 31,000 companies.
Richson founded Beacon in 1998. It was one of the first companies to digitize and personalize human resource management for both employers and employees.
Becom has about 31,000 customers and serves approximately five million employees inside and outside the United States. Most clients are companies that employ about 5,000 people.
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Richeson’s salary package for 2020 does not mean that he will receive $ 211 million in his bank account at once.
Wages for 2020 are largely performance-related incentives to increase Beacom’s stock market value. Richeson gets what it deserves Goals Otherwise, he would not be paid $ 211 million in 2020, but only $ 20 million.
Of course, a $ 20 million reward for a CEO is not good.
Compared to other software companies included in the S&P 500 index, Becom shares have also been performing well over the years. Since 2017, the average annual return on Becom shares has been 26 percent.
Richson will not receive his full pay package until Begum’s shares rise from it Current price level $ 400 to $ 1,000 in six years and 7,750 in ten years. “This requires significant value creation before he qualifies for significant compensation,” Beacon Commissioner Jason Clark said. “But it’s a strong impetus for Begum to grow over the next decade.”
Begum, like many American companies, operates with a so-called board of directors, which includes both managing directors and members of the oversight board. In principle, the latter group is concerned with the salary of the CEO. As the founder of Becom, Richeson has one Extra strong position: In addition to being the CEO, he is also the Chairman of the Board or the Chairman of the Joint Board of Directors.
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