Michael J. Loparco served as the CEO of Symbotic Inc. from April 2022 until November 2022. His time in this role was marked by a swift transition following the company’s major business combination, where he focused on expanding partnerships, particularly...
Michael J. Loparco served as the CEO of Symbotic Inc. from April 2022 until November 2022. His time in this role was marked by a swift transition following the company’s major business combination, where he focused on expanding partnerships, particularly with Walmart. He was heavily involved in achieving significant revenue growth for the company, reported at 136% in the fiscal year 2022. In 2022, he earned a total compensation of approximately $14.3 million, which included $336,539 in salary and a cash bonus of $250,000 tied to key performance metrics, showing a strong incentive structure. Notably, upon his resignation, he entered a separation agreement that provided him with severance payments totaling $1.05 million and a target cash incentive of $700,000. Interestingly, Loparco's position did not end under any conflict but transitioned smoothly as he left to make way for Richard Cohen. Michael’s leadership style reflects his focus on growth and strategic partnerships, valuable traits in his short yet impactful tenure at Symbotic.