Apple CEO Tim Cook's 99pc pay cut
Apple Inc CEO Tim Cook’s 2012 compensation package of $4.17 million is a huge cut on paper for the top executive of the most valuable US corporation, after a 2011 package fattened by more than $376 million in long-term stock awards.
Cook received the largest single pay package awarded to a company CEO in about a decade when he replaced Apple co-founder Steve Jobs in August last year, shortly before the Silicon Valley legend’s death in October 2011.
The maker of the iPhone and iPad made the 2012 compensation disclosures in a regulatory filing on Thursday. Cook, 52, has been with Apple since 1998.
News Source: bdnews24.com