Arvind Krishna, the CEO of IBM, made a significant statement recently that caused a stir. He announced that the company had put on hold 7,800 job vacancies because they were going to be replaced by artificial intelligence (AI). During an interview, he further explained that AI would replace approximately 30% of all non-customer-facing positions. Who is Arvind Krishna, and why is he considered one of the highest-paid CEOs globally?
In 2020, Arvind Krishna was chosen by the board of directors to be the CEO of the company.
Krishna became a part of IBM in 1990 after completing his engineering studies at IIT Kanpur. He went on to pursue further engineering education at the University of Illinois.
He was added to the group of Indian-origin business leaders who are currently heading American multinational corporations. This group includes Satya Nadella, Sundar Pichai, and Shantanu Narayen.
He has co-authored 15 patents.
Prior to becoming the CEO of IBM, he held the position of senior vice president in the company. Before that, he served as the general manager.
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Krishna has a track record of delivering successful outcomes. Most notably, he recently spearheaded the acquisition of Red Hat by IBM for a staggering sum of 34 billion dollars.
He has also made notable contributions to the scientific fields of wireless networking, security, systems, and databases.
In 2022, he received an annual compensation of 16.5 million dollars, which is roughly equivalent to Rs 135 crore. This translates to a daily salary of approximately Rs 37 lakh.
The previous year, he had received a compensation of 17.5 million dollars.
His annual salary was 1.5 million dollars, while he received stock awards worth 8.9 million dollars and stock options worth 2 million dollars.