Nicholas Woodman took inspiration from Mark Zuckerberg and Eric Yuan to tackle his company’s financial struggles
GoPro CEO Nicholas Woodman has decided to forgo his base salary of $850,000 – equivalent to R$4,880,408.45 at the current exchange rate – until the end of the year in an attempt to save the company from a financial crisis. The information was confirmed in a recent filing with the Securities and Exchange Commission.
Woodman’s decision comes after substantial economic challenges for the Bay Area camera manufacturer, with a sharp 20% drop in revenue in 2024 and concerning net losses exceeding $432 million, as reported by SFGATE.
Nicholas was apparently inspired by strategies employed by tech leaders such as Meta’s Mark Zuckerberg and Zoom’s Eric Yuan, who also cut their salaries during times of corporate hardship.
MarketWatch highlighted that Woodman’s total compensation in 2023, including bonuses and stock awards, reached $5.7 million (R$870,746.40), although GoPro’s recent filing did not disclose his expected stock awards or bonuses for 2025.
The company has outlined plans to reduce operating expenses by approximately 30% this year. If everything goes according to plan, profitability recovery and growth acceleration will occur by the end of 2026.
Source and images: RideApart / X @RuyGZ. This content was created with AI assistance and reviewed by the editorial team.
