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Carl M. Eschenbach

Chief Executive Officer at Workday
Board
Since February 1, 2024
Age
57 years
Education
Earned an electronics technician diploma from DeVry University.
Tenure
Joined Workday as a Director in February 2018, was promoted to Co-Chief Executive Officer in December 2022, and assumed the role of Chief Executive Officer on February 1, 2024.

Also at Workday

EC
Emma Chalwin
Chief Marketing Officer

About

Carl M. Eschenbach is 57 years old and holds an electronics technician diploma from DeVry University, reflecting a strong technical foundation for his career in the technology industry.

He has built an impressive career spanning over 30 years with leadership roles at major companies such as VMware, where he served as President and Chief Operating Officer, as well as his work as a general partner and venture partner at Sequoia Capital Operations. His experience is further highlighted by board memberships at notable technology firms.

At Workday, he began his association as a Director in February 2018, was elevated to Co-Chief Executive Officer in December 2022, and officially became the Chief Executive Officer on February 1, 2024, marking a significant milestone in his career. His extensive background in operational and sales management and his proven leadership have positioned him well to steer the company’s strategic direction and growth.

$WDAY Performance Under Carl M. Eschenbach

Past Roles

OrganizationRoleDate RangeDetails
Workday (WDAY) Co-Chief Executive Officer Dec 2022 – Feb 2024 Previous WDAY position prior to current CEO role
Sequoia Capital Operations, LLC General Partner 2016 – Dec 2022 Past role before transition to Venture Partner
VMware, Inc. President and Chief Operating Officer 2012 – 2016 Held multiple leadership positions; total duration of 14 years
Inktomi Corporation Sales Management Positions N/A N/A
3Com Corporation Sales Management Positions N/A N/A
Lucent Technologies, Inc. Sales Management Positions N/A N/A
EMC Corporation Sales Management Positions N/A N/A
Aurora Innovation, Inc. Board Member N/A Past board role
UiPath, Inc. Board Member N/A Past board role
Zoom Video Communications, Inc. Board Member N/A Past board role
Snowflake Inc. Board Member N/A Past board role

External Roles

OrganizationRoleDate RangeDetails
Sequoia Capital Operations, LLC Venture Partner Present N/A
Palo Alto Networks, Inc. Director 2013–Present N/A

Fixed Compensation

Data from  FY 2024
Component NameAmountPayment ScheduleAdditional Details
Base Salary$1,000,000AnnualFixed annual salary as per employment agreement
New Hire RSU Award$50,000,000Vests quarterly over 4 yearsGranted in December 2022; target grant value; no additional RSUs in 2024
Special RSU Award$10,000,000Vests quarterly over 1 yearGranted in December 2022; part of initial compensation package
Additional Special RSU Award$5,000,000Vests quarterly over 1 yearContingent on a $2,000,000 stock purchase within 12 months; part of the initial package
All Other Compensation$21,664Lump sumIncludes wellness reimbursements, company gifts, and other benefits

Performance Compensation

Data from  FY 2024

Annual Bonus

MetricValueDetails
Target Bonus Opportunity$1,500,000150% of base salary of $1,000,000
Financial Weight80%Financial performance component
Individual Weight20%Individual performance component
Threshold56%Minimum performance payout threshold
Target100%Full target payout level
Maximum (Cap)150%Maximum payout with a 150% individual multiplier
Evaluation PeriodsH1 & Full Year 2024H1: 40% payout at 50% funding; Full Year: 100% payout after achieving revenue and customer satisfaction targets
Payout MethodCashPaid as a cash bonus in fiscal 2024

Performance-Based Vesting Units (PVUs)

MetricValueDetails
Grant DateDec 28, 2022Award granted on this date
Grant Date Fair Value$37,895,520Calculated using a Monte Carlo simulation
Grant Date Stock Price$155.84Baseline price used for performance metrics
Tranche 1 Price Hurdle$194.8025% increase from baseline; achieved on June 20, 2023 at $196.91
Tranche 2 Price Hurdle$233.7650% increase from baseline; achieved on Jan 20, 2024 at $265.22
Tranche 3 Price Hurdle$272.7275% increase from baseline; performance period begins Dec 28, 2024
Vesting ScheduleMonthly (1/60th)Vesting starts on Dec 5, 2022; each tranche vests monthly with a one-year post-vesting holding period
Unrecognized Compensation Cost$11,000,000As of Jan 31, 2024; cost to be recognized over approximately three years

Non-Equity Incentive Plan Compensation

MetricValueDetails
Threshold Payout$840,000Minimum performance payout level
Target Payout$1,500,000Target level payout for achieving performance goals
Maximum Payout$2,700,000Maximum payout with a 150% individual multiplier
Performance MetricsFinancial & IndividualBased on adjusted subscription revenue and individual performance goals
Evaluation DetailsN/ANo specific vesting schedule, grant date, or stock price applies as this is cash-based