Commvault’s Most Highly Compensated Execs In 2023; CEO Leads Way
Four top executives at the data protection company reported more than $20 million in total compensation in fiscal year 2023. CRN breaks down the salaries, stock awards and other compensation from Commvault’s recent proxy filing.
Commvault’s top four named executives reported more than $20.5 million in combined total compensation during the data protection and management company’s fiscal year 2023.
The top earners for the Tinton Falls, N.J.-based company included President and CEO Sanjay Michandani, Chief Revenue Officer Riccardo Di Blasio, as well as Commvault’s current and former chief financial officers.
Commvault’s recent filing with the U.S. Securities and Exchange Commission sheds light on the company’s top compensated executives for the company’s fiscal year 2023, which ended on March 31, 2023. CRN breaks down the top four highest compensated Commvault executives—including their stock award payouts, base salaries and all other compensation—for fiscal year 2023.
Commvault’s $785 Million Fiscal Year 2023
Commvault reported a total net loss of around $16 million for its entire fiscal year 2023 and generated total revenue of $785 million during fiscal year 2023, which represented a 2 percent increase compared to fiscal year 2022.
“Commvault closed out the year strong, highlighted by Metallic eclipsing the $100 million ARR [annual reoccurring revenue] mark, 15 percent year over year total ARR growth, and strong cash flow,” said Mirchandani, in May during the company’s fourth quarter 2023 earnings report. “We enter the new fiscal year with momentum and confidence that Commvault customers are future proofed for the road ahead.”
Commvault is a top global cloud data protection company with more than 100,000 organizations leveraging its solutions. The company is constantly launching new products and capabilities around cybersecurity aimed at helping businesses secure, defend and recover their data from various cyber threats. Commvault touts itself as the only data protection vendor with early warning, in-depth threat monitoring, and cyber deception for protection and backup environments.
Here are Commvault’s most highly compensated executives for fiscal year 2023.