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Two more years! Chehade stays at ICANN with $100,000 pay raise
Kevin Murphy,
August 5, 2014, 12:18:36 (UTC),
Domain Policy
ICANN CEO Fadi Chehade has had his contract renewed for an extra two years with a new pay package worth up to $100,000 more than he was previously getting.
The ICANN board of directors last week approved an extension of his contract, which had not been due to expire until July next year, to June 30, 2017.
Effectively immediately, he’ll receive a new salary of $630,000 a year, with a performance-related bonus of up to $270,000 per year. That’s up 12.5% from his original salary of $560,000 and $240,000 bonus.
ICANN described the compensation as “comparable to similar positions”.
Despite the hefty bump, Chehade is still on a smaller package than his immediate predecessor, Rod Beckstrom, who was on a base salary of $750,000 with $195,000 in bonuses.
By renewing his contract a year early, ICANN avoids the kind of leadership speculation that dogged Beckstrom’s final year in the corner office.
“As we noted in the Board resolution, taking this action will help ensure the stability in leadership that is important for ICANN. It also shows the support and confidence that the Board has in Fadi,” ICANN chair Steve Crocker said in a statement.
Why not make the position tied to the lifespan of the person? After all, ICANN is royalty.