Twitter’s new executive chairman Omid Kordestani will be paid a base salary of $50,000 in his new role.
Kordestani was poached from Google by new CEO and Twitter founder Jack Dorsey, according to Reuters.
But while the base salary is $50,000, Twitter said Kordestani would also be paid in a one-time grant of options to buy 800,000 shares. “The company said it does not expect Kordestani to be appointed to any committee of the board,” according to Reuters.
Although the value of Kordestani’s Twitter award will vary depending on Twitter’s share price over the next several quarters and years, based on today’s share price for Twitter, Kordestani’s compensation works out to around $36 million.
Although the value of Kordestani’s Twitter award will vary depending on Twitter’s share price over the next several quarters and years, based on today’s share price for Twitter, Kordestani’s compensation works out to around $36 million.
Dorsey was named CEO after serving as the interim top executive since Dick Costolo left the role during the summer. The company founder officially regained his position as CEO earlier in October.