Zoom’s Most Highly Compensated Executives in Fiscal 2023
The video collaboration giant this year cut 15 percent of its staff and will reduce C-suite salaries and bonuses, but in fiscal year 2023, total compensation for the company’s top executives ballooned, with some payouts rising from the thousands to millions and CEO Eric Yuan’s compensation swelling to more than $75 million from $1.16 million in FY 2022.
San Jose, Calif.-based Zoom said that within 24 months, the company grew three times in size. Salaries and bonuses significantly increased at the same time, especially for Zoom’s top executives. For example, Zoom’s CFO’s total compensation for the 2023 fiscal year went from $393,694 in FY 2022 to $36.75 million, and the company’s founder and CEO Eric Yuan’s total compensation went from $1.16 million in FY 2022 to a whopping $75.96 million in FY 2023.
Zoom’s 2023 fiscal year ended on January 31.
By February, Zoom announced that would reduce its staff by 1,300 employees, or about 15 percent of its staff, which would impact every organization within the company. As a result, CEO Yuan said he would reduce his salary for the coming fiscal year by 98 percent and forego his FY23 corporate bonus. Members of Zoom’s executive leadership team will also reduce their base salaries by 20 percent for the 2024 fiscal year while also forfeiting their FY23 corporate bonuses.
Here’s a breakdown of the 2022 total compensation of Zoom Video Communications’ top five executives as reported in its U.S. Securities and Exchange Commission filing and ranked from lowest to highest compensation.