Arm boss in line for billion-dollar payday if chipmaker hits targets
Summary
The CEO of Arm, Rene Haas, could earn over $1 billion if the company reaches certain high-value goals, including becoming the UK’s first trillion-dollar tech company. Arm plans to pay him a large bonus and increase his share awards if the company’s market value hits $1 trillion by 2029 and grows further by 2031.Key Facts
- Arm is a British microchip company headquartered in Cambridge, listed on the New York stock exchange.
- CEO Rene Haas joined Arm in 2013 and became CEO in 2022.
- Arm proposes to give Haas a bonus of up to $800 million and extra shares if the company reaches $1 trillion market value by 2029, $1.25 trillion by 2030, and £2 trillion by 2031.
- Haas currently receives over $60 million in pay, including shares and bonuses.
- Arm aims to shift from only designing chips to also making its own chips, targeting fast growth in AI data centers.
- Arm was founded in 1990, was owned by SoftBank since 2016, and is currently valued at $367 billion.
- Shareholders must approve Haas’s updated pay plan at Arm’s annual meeting.
- Arm’s biggest customers include Apple, Samsung, Qualcomm, and Nvidia.
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