With $34.4 Million, Hari Ravichandran Highest-Earning Executive of a Public Company in Massachusetts
BOSTON– Hari Ravichandran, the 40-year-old chief executive officer of Burlington, MA-based Endurance International Group Holdings Inc., is the highest-earning executive of a public company in Massachusetts, Boston Business Journal reported.
Ravichandran, who founded Endurance International Group earned a total of nearly $36 million in 2015, according to a recently-filed proxy statement. Ravichandran reported a salary of $618,846 in addition to stock awards totaling $34.4 million. He also owns 4 percent of the company, valued at $69 million, Boston Business Journal said.
Endurance, which provides web hosting and marketing services for small businesses, acquired email marketing firm Constant Contact earlier this year for $1.1 billion and laid off 15 percent of its staff. Endurance stock has been hammered the past 12 months, falling 54 percent over that time to just over $9 on Wednesday — although revenue for the firm last year increased 18 percent to $741.3 million, according to Boston Business Journal.
Ravichandran’s earnings last year were more than General Electric Co. CEO Jeff Immelt’s total pay of $32.9 million, which included $3.8 million in salary and a bonuses of $5.4 million, Boston Business Journal said. GE is in the process of moving its headquarters to Boston from Fairfield, Connecticut.
Ravichandran has built Endurance into a trusted partner for the SMB market, and oversees all aspects of the business. He holds an M.B.A. from the Wharton School at University of Pennsylvania. He also earned a B.S. in Computer Engineering from Mississippi State and studied Electrical Engineering at Stanford. He is involved with various charities that are focused on projects in rural South East Asia.
