ServiceNow (NOW), a cloud-based solution for digital workflows provider, disclosed in a regulatory filing that it entered into an amendment to the previously filed employment agreement with William McDermott, Chairman and Chief Executive Officer. The amendment, effective January 1, 2026, confirms that McDermott will remain in service with the company through at least December 31, 2030.
The amendment further provides that McDermott's total compensation will be aligned with the Company's performance relative to its compensation peer group. Should he transition into the role of Executive Chairman, his compensation will be commensurate with the responsibilities associated with that position.
In addition, ServiceNow has amended its Executive Severance Policy, effective January 1, 2026. The updated policy revises certain severance payments and benefits that the CEO may become eligible to receive in the event of a Qualifying Termination, as defined in the policy.
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December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.