Vudman Nickname (Nick Woodman)

Vudman Nickname (Nick Woodman)

Biography

2018: Pay cut up to $1

The founder of manufacturing company of cameras for shooting in extreme conditions of GoPro Nick Vudman once was the highest paid top manager, and in 2018 cut down it a salary almost to zero.

As reported in April, 2018 CNBC TV channel with reference to the annual accounts GoPro, Nick Vudman will not get the planned award in $1.2 million after "catastrophic 2017" which was marked for the company by sales, weak in comparison with forecasts of the market, in New Year's Eve quarter, severe losses, mass layoffs and leaving from the fast-growing market of unmanned aerial vehicles.

Nick Vudman

Based on the overview of the general effectiveness of the company and assessment of individual indicators of the CEO concerning our business results and financial problems for 2017, the committee on remunerations and company management did not see achievement of target indicators and therefore did not approve a bonus for mister Vudman, says GoPro made for the U.S. Securities and Exchange Commission (SEC).

As a result the head of GoPro will receive only symbolical salary in $1. In 2014 he earned $285 million (at that time the highest rate among all heads in the USA), the most part of this amount fell on a share block which the company issued Vudmana after entry into the exchange. In 2017 no remunerations in the form of actions existed in connection with "results of 2016 and belief that the interests of Vudman who is the founder and the majority shareholder, are still well approved with the interests of our shareholders", reported in the company.

Once cost to GoPro more than $1 billion, and by the end of April, 2018 market capitalization of the company was reduced to $712 million. Since the beginning of 2018 of an action fell in price more than by a third.^[1]

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