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Twitter’s newest exec is getting a base salary of just $50,000

October 16, 2015, 7:44 PM UTC
US Internet giant Google senior vice pre
US Internet giant Google senior vice president Omid Kordestani announces Google and Japanese mobile communication giant NTT DoCoMo partnership which include providing Google's search and other services on the NTT DoCoMo's i-mode mobile Internet service in Tokyo 24 Janaury 2008. AFP PHOTO / Yoshikazu TSUNO (Photo credit should read YOSHIKAZU TSUNO/AFP/Getty Images)
Photograph - Yoshikazu Tsuno / AFP/Getty Images

Twitter’s new executive chairman Omid Kordestani will be paid a base salary of $50,000 in his new role.

Kordestani was poached from Google by new CEO and Twitter founder Jack Dorsey, according to Reuters.

But while the base salary is $50,000, Twitter said Kordestani would also be paid in a one-time grant of options to buy 800,000 shares. “The company said it does not expect Kordestani to be appointed to any committee of the board,” according to Reuters.

Per TechCrunch:

Although the value of Kordestani’s Twitter award will vary depending on Twitter’s share price over the next several quarters and years, based on today’s share price for Twitter, Kordestani’s compensation works out to around $36 million.

Dorsey was named CEO after serving as the interim top executive since Dick Costolo left the role during the summer. The company founder officially regained his position as CEO earlier in October.