how does this compare to the heads of ... say,
Oracle,
IBM,
Microsoft
HP
Twitter?
etc?
For a company this size, it does not seem to be that high.
Apple more than doubled chief exec Tim Cook's remuneration for 2014, handing him a bulging package worth $9.22m – including his $1.75m (£1.25m) base salary and a $6.7m (£4.5m) bonus. The compensation reflects the company's "extraordinary year in 2014", it said in its annual report (PDF). Sales at Apple rose seven per cent by …
Unlike the banks, if apple goes under we don't have to bail em out. Not a penny of my Tax money has gone to apple, although they have made sure to have paid as little as possible. So in cooks case I'm not too fussed , the company is earning loads, without risking the economy so fair play to him.
Fair play? No thoughts about the underpaid and overworked employees in the supply chain (Foxxconn), with terrible working conditions, who are falling asleep on the job because they were working 18 hour days, or living 10 a room in shared accommodation as it keeps Apples costs down when they relocate workers from rural areas into cities, or the harsh employee treatment as there is another 1000 people they could employee waiting to take their jobs. All good though, as you still get your iPhone for £499 while Apple execs take home multi-million dollar pay day. Welcome capitalism.
£6M pa doesn't seem astronomically high given the performance of Apple and its worth.
I notice they don't mention the share allowances in here, which is where the real value is probably hidden.
It also doesn't note the value of other benefits and expenses allowance.
When he took the CEO job he was given a million shares vesting in two chunks over the next 10 years, or a little over $70 million a year at current share prices.
I don't think Apple is giving out options to execs anymore, as others have had similar (but smaller) share awards that vest over time to insure the person stays in their post.
Tim Cook manages a company that makes money and wins, gets 9 million.
Gregg Steinhafel of Target Canada oversees one of the biggest retail failures anywhere, leaving behind a bankrupt company that owes $5 billion to creditors, and gets $61 million for his efforts.
Either Tim Cook has some other remuneration that they aren't talking about, or Steinhafel just demonstrated why some directors and shareholders are complete idiots.