Apple CEO Tim Cook has tied his future pay packet to the fruity firm's performance, in a move which could end up costing him over $100m. In a bid to stave off concerns that his company is on the verge of catastrophic decline, Steve Jobs' heir has put his own neck on the line by promising to sacrifice almost 40 per cent of the …
So if the company does not do well, he only gets a lot of money instead of an un-Godly amount of money.
ALL MISSING THE POINT
This guy does not bet, has never put a wager on anything that could be called a game of chance.
He knows what is in the pipeline, he knows it will blow away the opposition and so by making this statement he is not playing a game of might or might not.
It's just a publicity stunt, get interest in Apple, a bit of free advertising a month or so before they launch their atom bomb of a product.
He still gets 672,877 shares regardless of performance (if he's still working there) which is just shy of 270M at $400/share.
Even if the share price halves again that's $135M... unless I read it totally wrong (not impossible)
Such a sacrifice
Re: Ummm, so....
More than many would do...
Re: Ummm, so....
Don't Japanese/Korean CEOs sometimes forgo all their payements to compensate shareholders if their company fails?
Re: Ummm, so....
He is going to be living on beans and cat food (the no name stuff).
As much as I dislike apple, I'm quite glad to see a CEO finally put some of his money where his mouth is. Sure he'll still be richer than 95% of the population, but it's better than a lot of the CEOs which seem to drive a company into the ground, onlly to abandon ship with a golden handshake and a job lined up elsewhere because they used to be CEO of a big company.
He is not actually putting any money at risk. The money being put at risk is the additional sums over and above his salary that he would be paid if he hung around long enough.
The reality is that he gets a reward irrespective of his performance as head of the company (as will all the other directors if they go the same route) irrespective of how well the company does. The only thing that changes is the value of that reward, and as someone else points out the size of that reward is still hugely beneficial to the recipient.
I would have been more impressed if a)he had sacrificed annual salary excluding bonses dependent on the company's share price in 4 years time and b)sacrificed 100,000 based on a weighted average of the number of staff the company has to get rid of due to poor performance plus a for each say 1-2% reduction in profit plus failure to acheive 1-2% sales growth in each of the next 4 years.
Let's be realistic the CEO of any company has an obligation to all stakeholders in the company including the employees, shareholders and customers. His or her performance should be measured against their success in all those areas.
You have a fairly skewed idea of what 95% of the population earn my friend. The sort of money that Cook means that he earns more than 99.99% of Americans, let alone of the rest of world. But unless the next iPhone is really, really good, there's not much chance of him staying around until 2016 to collect
By 95% of the population, I actually meant combined earnings.
Lets face it, Ballmer wouldn't do it :)
His days are numbered.
Unless his losses would put him in the position that reduces his annual income to the same as being unemployed in the USA, he isn't gambling anything. Hell, if he said that he'd only take the amount of the average earner in the USA I'd be impressed (and even then, with savings etc. he still wouldn't hurt).
Until these fucknozzles are likely to have the same downside to their actions that a worker that stands to be made redundant as a result of those actions, then this is just posturing.
EEEEDIOT! He'll be bankrupt!
There is no loyalty. The iFolly is already over the hill and fisher price toys and watches are not going to change that.
a) Fisher price is cheaper
b) Fisher price is still cool (Have you seen the Space shuttle??? Cool....)
c) watches? Coffee grinders yes, watches no
Whilst I love to troll fanboi related posts like this, I cannot help but think that Apple needs a new innovator.
Lets face it, thats what they do best after all...
Do you mean 'did' best to a degree? I know some people swear by the iPad minis, but it was too high a price point - for £130 more I got a refurbished 64gb iPad 2. If he signed off the new iTunes, complete and utter waste - avoiding upgrading to v11 until I absolutely have to. Download-only of Lion, with no OPTION to get a DVD, ludicrous.
I love my iPhone 4S, but won't be upgrading to a 5 as it's not noticeably better for what I need - I'd rather have the extra £15/mth in my pocket vs giving it to o2 (my other half wants the 4S when I come to be eligible for an upgrade, but I'd rather buy her an unlocked one one-off as they're going for about £150 round here).
Someone said when Jobs died that he'd put the next 5 years' roadmap in place, possibly (and probably sadly) knowing he wasn't going to be around much longer. But did he leave any innovations or seeds for them to plant I wonder?
Jobs an Innovator?
Let me just step right in I've got things to invent
I'm an innovator baby changed the world
fortune 500 before you kissed a girl
I'm a pimp you're a nerd
I'm slick you're cheesy
beating you is Apple 2 easy
I make the product that the artist chooses
and the GUI that melinda uses
let me bring up some basic shit
Why'd you name your company after your dick.
Bit of a QQ.
iTunes 11 works fine and download only - so what? A friend could put it on a USB stick or DVD for you if you really can't download it or pretty sure you can buy a USB stick of (Mountain) Lion.
Not upgrading your 4S - don't - it's a great phone and plenty of people are still buying them. I also know people still using 3GSs and 4s - it would be the same if you had a Galaxy S3 and were looking at the S4 - yes a few tweaks but for most people it's not much of an upgrade. Unlocked 4S for £150 - I suggest you look on eBay - most seem to be going for around double that.
No innovations - for many the '5' was a step up from the '4' series - bigger screen, thinner, faster, same battery life is not bad when what can you do with a phone - add a stylus like Samsung (lol).
New Mac Pro's look pretty impressive (will be interesting to see what they cost) and the Macbook Pro Retina and Airs are all good - yes you can look at it and say it's incremental but I'm sure there is a lot more in the pipeline.
Is it fair to compare a new iPad Mini to a refurb iPad 2 - maybe - maybe not but I agree some of the refurb stuff is good value and from what I have seen / heard basically 'as new' anyway. The iPad Mini and the iPad are pretty similar apart from the screen size.
Nobody is innovating right now. Just making things nicer, more bling.
Decent services are what will make phones more useful. Google Now is a start down that direction.
People want every day intelligence, being told things by their device without having to ask it. Traffic delays on their route home etc.
There normally seems to be some kind of 'Innovation cycle' in most industries
Company A innovates a new invention
Company B, C, D create their own version of the innovation, making it just different enough to get past patent law.
Everyone polishes the innovation until it reaches a state of nothing more they can do.
Company Z innovates some new invention.
In many ways I actually feel that the innovation cycle was somewhat crippled thanks to software / design patents. You can't get around the patent like you can with hardware (same function, different implementation) because it's only the output which is patented, not the stuff under the hood.
This puts off company B C and D from 'innovating' their own version by a factor of years (and the court cases of course)
Because of all the court cases and back and forth the polish has taken far longer than it should, since they're tweaking to get around the patent suits rather than to improve the product.
Company Z can't innovate anything new because most of the outputs have been patented already by NPEs.
And so the cycle is stifled at every single point, pushing innovation back by a decade or so.
Lets face it, we're only just entering stage 3 of the cycle (polish) whereas any other market they'd have probably been on polish for the next innovation.
So you mean Apple innovate the iPhone - everyone copies - Apple gets slagged off for improving their product.
Then Apple innovate the iPad - everyone copies - Apple gets slagged off for improving their product.
Then Apple innovate the [inset next thing] - everyone copies - Apple gets slagged off for improving their product.
Re: Jobs an Innovator?
Wow. In your poem, the spatial organisation has become the durational organisation of words, the technical problem that of tempo. Words, like planes in abstract painting, function not as units in a logical structure, but as units functioning in a vital and organic structure of time. Logic and all its attributes of grammar, spelling and punctuation, become subservient to the imperial demands of form. The words must come at the moment juste, the spark perfectly timed must ignite them at their fullest incipient power. The verbal units fall, almost as if by fate, into a sharp relentless tempo that drives each into the highest incandescence of its meaning. There is no waste, the skilful orchestration of tempo forces each word to the final limit of its stress. Or, sumfing like that.
Re: Jobs an Innovator?
I think it's rap.
Hmm, I seem to have something stuk under one of my keys.
"No innovations - for many the '5' was a step up from the '4' series - bigger screen, thinner, faster, same battery life is not bad when what can you do with a phone - add a stylus like Samsung (lol)."
Yeah cause the only thing Samsung have done is add a "stylus" (ignoring that some of us who buy devices like the Note 2 specifically wanted and find the stylus/pen useful). lol indeed.
Re: Jobs an Innovator?
Sir, for the excellent Epic Rap Battles of History reference, have another upvote. I'm assuming the downvoters have not yet seen the excellence in that particular Youtube video.
BFD...He still gets all the perks of being the top worm in the Apple, private plane, 5 star travel, etc. etc. ad nauseum. What else would someone so unskilled and generally useless do? It is not as though he actually MAKES something we all need, and in any case, he is a single caricature of the firm, not the brains behind the machine. If Appletards buy iCrap over and over just because it has a new color/finish/port it is unlikely that the clown on top can be much more than irrelevant. It is the brand that counts, not the clone.
You go suck up to some Korean overlord instead - or do you think they live a humble life and donate all their profits to charitable causes around the world?
Half of Nothing
So if the share deal he's been offered turns out to be worth naff all then he'll only take half of it.
Re: What an insult
Err, this is talking about that $700 million he got a couple of years back. It's the same share awards: not more of them, just changing the terms of what he's already got.
Stock market traders
Stock market traders were the ones that boosted Apple's share price way above normal, and now Apple is blamed when those same traders think again.
Crazy. The markets need far more regulation. How many traders or bankers have gone to jail for the 2008 debacle?
AhhhTimmy...what's going on here?
"Considering the original deal would have netted him about $413m, if measured using Apple's current stock price of $413.50..."
Make that USD$399.625 per share at the moment. Oooopppsss. Not looking good for those extra shares.
Just a drop in the ocean
And obviously an off-shore ocean.
I'd really love to lose a few of my millions.
Here's the deal... I'm a rabid Apple fanboi.
I'm still in work, I have disposable income (one of the many joys of having no kids), I have the firmly held belief that owning Apple kit somehow makes me just... finer... than the non-Apple owning masses. Even better, I have three houses to furnish with shiny tat I'll never use, and such low self-awareness and esteem that I have no idea how pointless and sad my constant need for fruit-based acquisitions really is.
Finally, I truly understand that the idea of a walled garden is to keep the peasants away from my lawns.
With people like me around (and we are legion) - how can Apple fail?
look up the meaning of CULT.. that the correct word for Apple users..