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Nike CEO Mark Parker Earns a Staggering $47.6 Million for Fiscal Year 2016

Part of an incentive package to keep Parker at Nike through 2020
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Image via: AP

Image via: AP

For fiscal year 2016, the base salary for Nike CEO Mark Parker remained flat at about $1.6 million. His total compensation, on the other hand, nearly tripled to $47.6 million compared to the previous year, thanks to a substantial increase in stock awards tied to his taking over the chairman role in the wake of Phil Knight's retirement. According to a regulatory filing, Nike's compensation committee awarded Parker due to the company's strong performance under his leadership. Since becoming CEO in 2006, Parker has delivered over $32 billion in sales, more than double the amount when he initially took over.

The stock grants are part of an incentive package intended to keep the 60 year-old Parker on-board at the Swoosh until at least 2020. Parker has publicly vowed to grow Nike's earnings to $50 billion by that year, with a particular focus on women's apparel and footwear. Troubles with supply chain management and rising competition from brands like Under Armour, however, saw Nike's stock dip 8.6 percent in 2015, following seven straight years of gains.

Check out Mark Parker's thoughts on being on top of the sportswear heap here, and also check out a key aspect of his leadership strategy.