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Nike CEO Mark Parker’s Pay Nearly Tripled for Fiscal 2016

It’s been a big year for Nike chief executive Mark Parker.

Not only did he nab the role of chairman when co-founder Phil Knight stepped down in June, he led the company to achieve a 6 percent lift in sales in fiscal 2016, reaching $32.4 billion, and his compensation nearly tripled.

According to a proxy filed with the Securities and Exchange Commission (SEC) Monday, Parker’s base salary of $1.55 million remained the same in the year ended May 31 but his total pay packet for the year amounted to $47.6 million, up from $16.8 million in fiscal 2015. That increase was mostly thanks to $33.5 million in stock awards, because of the committee’s “belief that the continued service and retention of Mr. Parker is critical to the company’s continued success.”

Read more at Sourcing Journal.