Apple CEO Tim Cook’s salary cut by more than 30 percent, know the reason
The salary package of Apple CEO Tim Cook has been reduced. Now he will get 49 million dollars i.e. about 4 billion rupees. Let us tell you that last year, Cook got a salary package of $ 99.4 million.
Highlights
- Apple CEO Tim Cook’s salary package has been cut.
- Cook’s salary has been cut by 40 percent.
- CEO Tim Cook will now get a salary of $49 million.
iPhone maker company Apple has drastically cut the salary of its CEO Tim Cook. This reduction has not been done by 10 or 20 percent but by 40 percent. For your information, let us tell you that the salary has been reduced at the behest of Tim Cook. In fact, due to the recession in the US, a major decline in the company’s share prices was recorded, due to which Cook requested a pay cut. Also Read – Apple MacBook Pro laptop launched with M2 Pro and M2 Max chip, know the price
Now you will get this much salary
It has been told in the media report that after the deduction, Tim Cook’s salary has now increased to $ 49 million i.e. about 4 billion rupees. This includes $3 million in base salary, $6 million in bonus and $40 million in equity value. Apart from this, the stock percentage has also been increased from 50 to 75 percent. Also Read – Golden chance to buy Apple MacBook Air cheaply, getting more than 25 thousand discount
Why did Tim Cook’s salary decrease?
According to Apple, the decision to revise Cook’s salary has been taken after taking into account the stock, shareholder feedback, performance and Cook’s request. The company also plans to keep Cook’s annual target compensation of between 80 and 90 percent, the company said. Also Read – Apple launches new game Illustrated, popular paintings will be available in the form of puzzles
This was the old salary
Explain that in the year 2022, CEO Tim Cook received a salary package of $ 99.4 million, which included $ 3 million basic salary, $ 83 million bonus and stock. Earlier, Cook’s salary package was $ 98.7 million.
That’s why there was no change in salary last year
Remind you that in the year 2022, the salary package of Apple CEO Tim Cook became a topic of discussion. During the SEC filing, shareholders raised concerns about the amount of target compensation. However, despite the concerns, a majority of shareholders voted in favor of Cook’s pay package and, therefore, his salary remained unchanged last year.
