"In the employee agreement published in an SEC filing last week, the company said it would keep McDermott on the payroll until at least Dec. 31, 2030, but outlined three roles apart from CEO that McDermott could perform. "[H]e will serve in the role of CEO, co-CEO, Executive Chairman or Non-Executive Chairman, at the discretion of the Company's Board of Directors," ServiceNow stated in the filing."
""[I]n Mr. McDermott's role as CEO or co-CEO, his total compensation will be commensurate with the performance of the Company against its compensation peer group and, should he move into the role of Executive Chairman, his compensation will be commensurate with the level of responsibilities he is performing in the role," ServiceNow wrote in the filing."
""The recent amendment to Bill's employment agreement simply extends his leadership service with us through at least 2030. It currently places no emphasis on, nor does it represent a decision by our Board to adopt, any other leadership structure," the company stated."
ServiceNow extended Bill McDermott's employment through at least Dec. 31, 2030 and specified alternative roles he could assume, including co-CEO, Executive Chairman, and Non-Executive Chairman. The amended agreement grants the board discretion to place him in any of those roles, subject to mutual understanding with McDermott, who chairs the board. Compensation for CEO or co-CEO would be tied to company performance against its compensation peer group, while compensation as Executive Chairman would align with the level of responsibilities performed. The initial 2019 agreement named only the CEO role, and ServiceNow stated no current leadership changes have been made.
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