Zoom Video Communications Inc. and Salesforce Inc. have made their in-house legal leaders some of the highest paid executives in their respective companies last year, according to recent findings. Salesforce compensated Sabastian Niles with approximately $14.1 million, after a recruitment from the prominent law firm, Wachtell, Lipton, Rosen & Katz. Aparna Bawa, Zoom’s chief operating officer and recent interim legal head, received close to $11.5 million.
These financial disclosures were revealed in separate proxy statements filed by their respective companies on Thursday evening. It’s worth noting that both Niles and Bawa feature high in the pay league, not just within the tech sector but in the broader context of U.S publicly traded companies. In the tech sector, they are out-earned by few, among them being Alphabet Inc.’s Kent Walker and Apple Inc.'s Kate Adams.
Niles, who joined Salesforce halfway through its 2024 fiscal year, had a prior relationship with the firm, having advised it during its 2023 proxy battle with billionaire Paul Singer’s activist hedge fund Elliott Investment Management LP.
Zoom recently recruited Cheree McAlpine as its new legal chief, thus freeing Bawa up to focus on her business-side role. Both Salesforce and Zoom have existing general counsels, namely, Todd Machtmes and Jeffrey True respectively, however, they are not among their respective companies' top five highest-paid executives.
It would be interesting to follow how these investments to recruit and retain top legal talent reflect in the strategic decisions and legal outcomes for these technology giants in the future. Given their ambitious expansion plans, it certainly seems like a well-thought-out move.
For a more detailed insight into their compensation packages, refer here.