Arm boss in line for billion-dollar payday if chipmaker hits targets
Key points
- The chief executive of Arm is in line for a pay package that would make him a billionaire if he hits targets to turn the microchip firm into the UK’s first trillion-dollar company.
- Arm, which is listed in New York but retains its global headquarters in Cambridge, has proposed a pay scheme for Rene Haas in which he will receive generous annual share awards plus a maximum bonus of $800m if he can hit certain “exceptional growth metrics”.
- The payout would be one of the biggest ever awarded by a British company.
- Under the terms of the proposed bonus, or “value creation plan”, Haas, 63, will be awarded 425,000 shares if he can hit market value targets of $1tn (£743bn) by 2029, $1.25tn the following year and £2tn by the end of March 2031. Arm said the potential $800m compensation package for Haas, who joined the company in 2013 and...
Quick Summary
The chief executive of Arm is in line for a pay package that would make him a billionaire if he hits targets to turn the
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This development is important because it may impact public opinion, policy decisions, and future developments related to Arm boss in line for billion-dollar payday if chipmaker hits.
Key Takeaways
- The chief executive of Arm is in line for a pay package that would make him a billionaire if he hits targets to turn the microchip firm into the UK’s first trillion-dollar company.
- Arm, which is listed in New York but retains its global headquarters in Cambridge, has proposed a pay scheme for Rene Haas in which he will receive generous annual share awards plus a maximum bonus of $800m if he can hit certain “exceptional growth metrics”.
- The payout would be one of the biggest ever awarded by a British company.
- Under the terms of the proposed bonus, or “value creation plan”, Haas, 63, will be awarded 425,000 shares if he can hit market value targets of $1tn (£743bn) by 2029, $1.25tn the following year and £2tn by the end of March 2031.
- Arm said the potential $800m compensation package for Haas, who joined the company in 2013 and was to chief executive in 2022, appropriately reflected “the significant value creation required by market capitalisation milestones”.
📌 Source: The Guardian
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