Facebook has more than doubled compensation to chief executive officer Mark Zuckerberg to $22.6 million in 2018.
Though Mark Zuckerberg has been drawing a base salary of $1 for the past three years, his “other” compensation was listed at $22.6 million, nearly half of which was for his personal security.
Facebook chief operating officer Sheryl Sandberg took $23.7 million towards salary in 2018 compared to $25.2 million last year.
Facebook earlier said its revenue rose to $16.91 billion in 2018 from $12.97 billion in 2017. Facebook’s net income rose to $6.88 billion, or $2.38 per share, in the fourth quarter ended December 31, from $4.27 billion, or $1.44 per share, a year earlier. Facebook’s monthly active users rose to 2.32 billion.
Separately, Facebook said Netflix chief executive officer Reed Hastings would vacate his seat on the social media company’s board and not be nominated for re-election.
Reed Hastings’ departure comes as the Menlo Park-based company beefs up its push into videos. Reed Hastings has served on Facebook’s board since 2011.
The social media company said it would nominate PayPal’s senior vice president of core markets, Peggy Alford, to its board in place of University of North Carolina president emeritus Erskine Bowles, who will also not be re-nominated.