According to a filing, Rami Rahim, new CEO of Juniper Networks Inc. (JNPR) is getting a compensation package totaling about $14.5 million.
According to that filing, Rahim will be paid an annual salary of $1 million, $5million restricted shares, a target bonus of as much as $1.75 million, an equity award valued at $6.75 million and $5 million in restricted shares.
Shaygan Kheradpir is Rahim's predecessor. He is earning an almost identical package to his predecessor, who stepped down on Nov. 10. Kheradpir was also eligible for a $5 million signing bonus.
After Kheradpir was pulled down, Rahim was appointed CEO earlier this month after Kheradpir stepped down following a board review of his conduct related to a customer negotiation. Rahim, 43, joined Juniper in 1997 and has helped develop some of its key products. He has won praise as a technologist who knows Juniper’s products well.
Juniper seems to tackle numerous challenges this year, including executive shifts and activist pressure amid shrinking revenue. Kevin Johnson was replaced in January and that same month, activist hedge fund Elliott Management Corp targeted Juniper. The company bowed to Elliott’s pressure for cost cuts and share buybacks, unveiling plans to return at least $3 billion to shareholders and to reduce $160 million in expenses.
According to that filing, Rahim will be paid an annual salary of $1 million, $5million restricted shares, a target bonus of as much as $1.75 million, an equity award valued at $6.75 million and $5 million in restricted shares.
After Kheradpir was pulled down, Rahim was appointed CEO earlier this month after Kheradpir stepped down following a board review of his conduct related to a customer negotiation. Rahim, 43, joined Juniper in 1997 and has helped develop some of its key products. He has won praise as a technologist who knows Juniper’s products well.
Juniper seems to tackle numerous challenges this year, including executive shifts and activist pressure amid shrinking revenue. Kevin Johnson was replaced in January and that same month, activist hedge fund Elliott Management Corp targeted Juniper. The company bowed to Elliott’s pressure for cost cuts and share buybacks, unveiling plans to return at least $3 billion to shareholders and to reduce $160 million in expenses.
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