{"id":78432,"date":"2023-01-13T04:30:07","date_gmt":"2023-01-13T04:30:07","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2023\/01\/13\/apple-boss-tim-cook-to-have-pay-cut-by-over-40-this-year\/"},"modified":"2023-01-13T04:30:07","modified_gmt":"2023-01-13T04:30:07","slug":"apple-boss-tim-cook-to-have-pay-cut-by-over-40-this-year","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2023\/01\/13\/apple-boss-tim-cook-to-have-pay-cut-by-over-40-this-year\/","title":{"rendered":"Apple boss Tim Cook to have pay cut by over 40% this year"},"content":{"rendered":"
\n

Apple CEO Tim Cook will see his annual salary cut by more than 40% this year.<\/b><\/p>\n<\/div>\n

\n

The tech giant says Mr Cook requested the cut after criticism from shareholders.<\/p>\n<\/div>\n

\n

Apple’s Compensation Committee awarded him “target compensation” totaling $49m (\u00a345.1m) for 2023.<\/p>\n<\/div>\n

\n

Over the past year, shares of the iPhone maker have fallen sharply amid supply chain issues and a global economic slowdown.<\/p>\n<\/div>\n

\n

“The Compensation Committee considered feedback from shareholders, Apple’s exceptional performance and a recommendation from Mr. Cook to adjust his compensation in light of the feedback received,” Apple said in a filing with a U.S. financial regulator.<\/p>\n<\/div>\n

\n

With the move, Mr. Cook’s annual base salary will remain unchanged at $3 million, plus a bonus of up to $6 million.<\/p>\n<\/div>\n

\n

The biggest difference to his salary package is how he is allocated shares in the company.<\/p>\n<\/div>\n

\n

In 2022, the company granted him $75 million in stock, half of which was contingent on how well Apple did in the stock market.<\/p>\n<\/div>\n

\n

For this year, his stock award goal has been reduced to $40 million, with three-quarters of that contingent on stock performance.<\/p>\n<\/div>\n

\n

Mr. Cook’s 2022 compensation target was $84 million, although his actual total salary for the last year was $99.4 million. That number included $630,600 in personal security expenses and $712,500 for the use of a private jet.<\/p>\n<\/div>\n

\n

Last year, Apple shareholders were urged by a leading investor advisory group to vote against Mr. Cook’s pay package.<\/p>\n<\/div>\n

\n

In a letter to investors, Institutional Shareholder Services (ISS) said there were “significant concerns” about the “design and scope” of the package.<\/p>\n<\/div>\n

\n

According to ISS, Mr. Cook’s salary was 1,447 times the salary of the average Apple employee.<\/p>\n<\/div>\n

\n

Mr. Cook became Apple’s chief executive in August 2011, just weeks before the death of co-founder Steve Jobs.<\/p>\n<\/div>\n

\n

Under Mr. Cook’s leadership, Apple became the first company to reach a market valuation of $3 trillion before falling to about $2.1 trillion in a turbulent year for the tech industry.<\/p>\n<\/div>\n

\n

Covid lockdowns at factories in China, supply chain delays and a global economic slowdown have helped push Apple’s share price down more than 20% over the past year.<\/p>\n<\/div>\n

\n

According to Forbes magazine, the 62-year-old’s personal fortune is around 1.7 billion US dollars. Mr Cook has promised to give away his entire fortune while he is alive.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Apple CEO Tim Cook will see his annual salary cut by more than 40% this year. The tech giant says Mr Cook requested the cut after criticism from shareholders. Apple’s Compensation Committee awarded him “target compensation” totaling $49m (\u00a345.1m) for 2023. Over the past year, shares of the iPhone maker have fallen sharply amid supply […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-78432","post","type-post","status-publish","format-standard","hentry","category-business"],"yoast_head":"\nApple boss Tim Cook to have pay cut by over 40% this year - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2023\/01\/13\/apple-boss-tim-cook-to-have-pay-cut-by-over-40-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apple boss Tim Cook to have pay cut by over 40% this year\" \/>\n<meta property=\"og:description\" content=\"Apple CEO Tim Cook will see his annual salary cut by more than 40% this year. The tech giant says Mr Cook requested the cut after criticism from shareholders. Apple’s Compensation Committee awarded him “target compensation” totaling $49m (\u00a345.1m) for 2023. Over the past year, shares of the iPhone maker have fallen sharply amid supply […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tahrir2day.com\/news\/2023\/01\/13\/apple-boss-tim-cook-to-have-pay-cut-by-over-40-this-year\/\" \/>\n<meta property=\"og:site_name\" content=\"Tahrir News\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-13T04:30:07+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/tahrir2day.com\/news\/#website\",\"url\":\"https:\/\/tahrir2day.com\/news\/\",\"name\":\"Tahrir News\",\"description\":\"News all over the world\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/tahrir2day.com\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tahrir2day.com\/news\/2023\/01\/13\/apple-boss-tim-cook-to-have-pay-cut-by-over-40-this-year\/#webpage\",\"url\":\"https:\/\/tahrir2day.com\/news\/2023\/01\/13\/apple-boss-tim-cook-to-have-pay-cut-by-over-40-this-year\/\",\"name\":\"Apple boss Tim Cook to have pay cut by over 40% this year - Tahrir News\",\"isPartOf\":{\"@id\":\"https:\/\/tahrir2day.com\/news\/#website\"},\"datePublished\":\"2023-01-13T04:30:07+00:00\",\"dateModified\":\"2023-01-13T04:30:07+00:00\",\"author\":{\"@id\":\"https:\/\/tahrir2day.com\/news\/#\/schema\/person\/5eb9492fbc67154812b39589e826b6e4\"},\"breadcrumb\":{\"@id\":\"https:\/\/tahrir2day.com\/news\/2023\/01\/13\/apple-boss-tim-cook-to-have-pay-cut-by-over-40-this-year\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/tahrir2day.com\/news\/2023\/01\/13\/apple-boss-tim-cook-to-have-pay-cut-by-over-40-this-year\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/tahrir2day.com\/news\/2023\/01\/13\/apple-boss-tim-cook-to-have-pay-cut-by-over-40-this-year\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/tahrir2day.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business\",\"item\":\"https:\/\/tahrir2day.com\/news\/category\/business\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Apple boss Tim Cook to have pay cut by over 40% this year\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/tahrir2day.com\/news\/#\/schema\/person\/5eb9492fbc67154812b39589e826b6e4\",\"name\":\"megahed\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/tahrir2day.com\/news\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0ee3294b28670178246ce92a6679bf959bc435d2fcd9cb9ab078702487c106df?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0ee3294b28670178246ce92a6679bf959bc435d2fcd9cb9ab078702487c106df?s=96&d=mm&r=g\",\"caption\":\"megahed\"},\"sameAs\":[\"https:\/\/tahrir2day.com\/news\"]}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Apple boss Tim Cook to have pay cut by over 40% this year - Tahrir News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/tahrir2day.com\/news\/2023\/01\/13\/apple-boss-tim-cook-to-have-pay-cut-by-over-40-this-year\/","og_locale":"en_US","og_type":"article","og_title":"Apple boss Tim Cook to have pay cut by over 40% this year","og_description":"Apple CEO Tim Cook will see his annual salary cut by more than 40% this year. The tech giant says Mr Cook requested the cut after criticism from shareholders. Apple’s Compensation Committee awarded him “target compensation” totaling $49m (\u00a345.1m) for 2023. Over the past year, shares of the iPhone maker have fallen sharply amid supply […]","og_url":"https:\/\/tahrir2day.com\/news\/2023\/01\/13\/apple-boss-tim-cook-to-have-pay-cut-by-over-40-this-year\/","og_site_name":"Tahrir News","article_published_time":"2023-01-13T04:30:07+00:00","twitter_card":"summary_large_image","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/tahrir2day.com\/news\/#website","url":"https:\/\/tahrir2day.com\/news\/","name":"Tahrir News","description":"News all over the world","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/tahrir2day.com\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/tahrir2day.com\/news\/2023\/01\/13\/apple-boss-tim-cook-to-have-pay-cut-by-over-40-this-year\/#webpage","url":"https:\/\/tahrir2day.com\/news\/2023\/01\/13\/apple-boss-tim-cook-to-have-pay-cut-by-over-40-this-year\/","name":"Apple boss Tim Cook to have pay cut by over 40% this year - Tahrir News","isPartOf":{"@id":"https:\/\/tahrir2day.com\/news\/#website"},"datePublished":"2023-01-13T04:30:07+00:00","dateModified":"2023-01-13T04:30:07+00:00","author":{"@id":"https:\/\/tahrir2day.com\/news\/#\/schema\/person\/5eb9492fbc67154812b39589e826b6e4"},"breadcrumb":{"@id":"https:\/\/tahrir2day.com\/news\/2023\/01\/13\/apple-boss-tim-cook-to-have-pay-cut-by-over-40-this-year\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/tahrir2day.com\/news\/2023\/01\/13\/apple-boss-tim-cook-to-have-pay-cut-by-over-40-this-year\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/tahrir2day.com\/news\/2023\/01\/13\/apple-boss-tim-cook-to-have-pay-cut-by-over-40-this-year\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/tahrir2day.com\/news\/"},{"@type":"ListItem","position":2,"name":"Business","item":"https:\/\/tahrir2day.com\/news\/category\/business\/"},{"@type":"ListItem","position":3,"name":"Apple boss Tim Cook to have pay cut by over 40% this year"}]},{"@type":"Person","@id":"https:\/\/tahrir2day.com\/news\/#\/schema\/person\/5eb9492fbc67154812b39589e826b6e4","name":"megahed","image":{"@type":"ImageObject","@id":"https:\/\/tahrir2day.com\/news\/#personlogo","inLanguage":"en-US","url":"https:\/\/secure.gravatar.com\/avatar\/0ee3294b28670178246ce92a6679bf959bc435d2fcd9cb9ab078702487c106df?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0ee3294b28670178246ce92a6679bf959bc435d2fcd9cb9ab078702487c106df?s=96&d=mm&r=g","caption":"megahed"},"sameAs":["https:\/\/tahrir2day.com\/news"]}]}},"_links":{"self":[{"href":"https:\/\/tahrir2day.com\/news\/wp-json\/wp\/v2\/posts\/78432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tahrir2day.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tahrir2day.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tahrir2day.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tahrir2day.com\/news\/wp-json\/wp\/v2\/comments?post=78432"}],"version-history":[{"count":0,"href":"https:\/\/tahrir2day.com\/news\/wp-json\/wp\/v2\/posts\/78432\/revisions"}],"wp:attachment":[{"href":"https:\/\/tahrir2day.com\/news\/wp-json\/wp\/v2\/media?parent=78432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tahrir2day.com\/news\/wp-json\/wp\/v2\/categories?post=78432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tahrir2day.com\/news\/wp-json\/wp\/v2\/tags?post=78432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}