In the early morning of April 27th, Beijing time, in 2014, professional sports camera manufacturer GoPro went public. The company’s founder and CEO, Nick Woodman, became the highest paid CEO in the US that year, because he obtained A stock worth 285 million U.S. dollars.
This year, after the GoPro board cuts his salary and deprives him of his bonus, Woodman's salary will not exceed one dollar.
On Thursday, GoPro announced its annual report last year. The report shows that Woodman missed the $1.2 million in prize money that could have been earned in 2017. In 2017, GoPro sold less than expected in the holiday shopping season and made layoffs. , Withdrawing from the rapidly developing drone camera market, etc. are all reasons for Woodman's missed bonuses.
In 2017, GoPro’s annual revenue was US$1.18 billion, and the performance was fair. According to data released by the company in February this year, its key sales, including the holiday shopping season, fell by 38% year-on-year. The net loss was $182.9 million, an increase of 56% from last year.
The GoPro Board of Directors wrote in a document released on Thursday: 'Based on the company's business return and financial status in 2017, we evaluated the company's overall performance for the year and the individual performance of the company’s CEO. We believe that it has not reached expectations. The goal, therefore, refused to pay Mr. Woodman a bonus.
In January of this year, the GoPro board of directors reached an agreement with Woodman to give him only '$1 in nominal salary this year and no cash dividend'.
The paper also pointed out that Woodman did not receive a company equity award last year. The document wrote: 'Based on the results of the 2016 performance evaluation, and he as the founder of the company, the main shareholders of this view, the interests of Mr. Woodman Closely related to our other shareholders. '
As a 'Unicorn' company, the pre-IPO GoPro was valued at more than US$1 billion. The market value of GoPro after the listing is only US$712 million. In the past year, the company’s stock price has fallen by more than one-third. This Thursday, GoPro's stock price was $4.86 per share. Earlier news that Xiaomi considered the acquisition of GoPro , But they are not willing to pay a high price. Whether Xiaomi and GoPro had an acquisition talk and what price Xiaomi is willing to pay is still unknown.