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.
So his company stock is hammered, he played a crucial role in layoffs and unemployment and is still the highest paid. Am I supposed to feel good and proud about it? Bill Gates is the richest, but he is respected not for his money.