Apple CEO Tim Cook Earned $102 Million in 2017, Must Now Fly Privately for Security Reasons

[sirozha]

Not intirely. No corporation would do that. As a shareholder since 1996 my point is given his Aura as the champion of humane rights, equality, the environment, and all thing Magical the monies could be used for many other causes. But they won’t.

Because Tim talks the talk, but does not walk the walk. Most do not look deep enough.

As a shareholder, I’m also in favor of buy backs. Donating to causes is not a function of a corporation. I would advocate for Apple paying higher salaries to their employees, though. I would like to see Apple compensating their employee above competition.

If Tim feels compelled to donate to liberal causes, let him use his own account for that. He has made plenty of money.

 

[jbizzybeetle]

In fiscal 2017, Apple CEO Tim Cook received a salary of $3.06 million plus $9.33 million in bonuses and stock worth $89.2 million for a total compensation package of approximately $102 million, reports Bloomberg.

The data was shared today by Apple in a proxy statement filed with the United States Securities and Exchange Commission ahead of the company's annual shareholders meeting, which will take place on February 13, 2018.

Executive officers at Apple, which included Luca Maestri, Angela Ahrendts, Johny Srouji, Dan Riccio, and Bruce Sewell, all received bonuses of over $3 million, bringing their compensation, including salary and stock awards, to approximately $24.2 million each, provided each stays with the company long enough for awarded stock to vest. Angela Ahrendts, Apple's retail chief, was the highest paid executive, bringing in $24,216,072.

In addition to covering executive compensation, today's proxy statement also says that Apple's board now requires Apple CEO Tim Cook use private aircraft "for all business and personal travel." The flight policy was implemented in 2017 "in the interests of security and efficiency" based on Cook's "highly visible" role as CEO.

Over the course of 2017, Cook's personal air travel expenses amounted to $93,109, and Apple spent an additional $224,216 in personal security costs provided to Cook.

The proxy statement also includes six proposals that will require shareholder action at the upcoming shareholders meeting in February. Proposals cover standard actions like re-appointing Apple's public accounting firm and re-electing board members, along with two shareholder proposals covering proxy access amendments and the establishment of a Human Rights Committee.

Apple's board of directors is recommending shareholders vote against both shareholder proposals, with the full text of all of the proposals available in the proxy statement filed with the SEC.

Shareholders who wish to attend the shareholders meeting, which will be held at the Steve Jobs Theater at Apple Park, will need to register using Proxyvote.com starting at 8:00 a.m. on January 22, 2018. Apple plans to accept registrations on a first-come, first-serve basis as space is limited.

Note: Due to the political nature of the discussion regarding this topic, the discussion thread is located in our Politics, Religion, Social Issues forum. All forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts.

Article Link: Apple CEO Tim Cook Earned $102 Million in 2017, Must Now Fly Privately for Security Reasons

Maybe someday I will understand the Angela love. For now, Apple’s various strategies have turned their retail stores into the noise and crowded conditions of Asian cities, or the L.A. freeways at rush hour.

 

[asdavis10]

Remember how Jobs only took $1 a year for salary?

Jobs was also a billionaire because of the stock he owned. So apples/oranges comparison.

 

[Naraxus]

Maybe someday I will understand the Angela love. For now, Apple’s various strategies have turned their retail stores into the noise and crowded conditions of Asian cities, or the L.A. freeways at rush hour.

Angela has turned what was once a great place to go for Apple products into a tech ghetto

 

[s2mikey]

Jobs was also a billionaire because of the stock he owned. So apples/oranges comparison.

Yah, taking a $1 dollar salary is pretty easy when you already have billions of dollars. It’s like.... "great, way to sacrifice and take one for the good of the team". LOL.

 

[MH01]

Milking which products? You can’t make a profit if you don’t sell product. Are you claiming people who buy Apple products aren’t very bright?

How on earth did you come to that conclusion ? That I said Apple fans are not very bright.... Just looking to bicker?

You are on your own here ....
[doublepost=1514474297][/doublepost]

You can't actually be serious with that?

The risk taken in putting out a multi touch smartphone in an era when such thing practically didnt exist in consumer terms and a tablet computer that nobody else had ever really had any success with was taken under Jobs. Cook has continued to iterate on their success but both the iPhone (where the vast majority of the revenue is coming from) and the iPad were both successful products when Jobs passed away.

The new products introduced under Cook have been a very mixed bag. The watch has done well in a category that nobody really cares about and was practically unusable when the first version shipped, the Mac has languished and the product line up is well on its way back to John Scully/Gil Amelio levels of convolution.

Do you really think Tim and Eddie Cue could've got that iTunes deal done? The mess they've made of trying to put together a TV streaming service suggests not eh?

The truth is Cook has kept the cash registers ringing largely off the back of the iPhone, an established product when he took over from Jobs, but he's done nothing to suggest that Apple will be the ones to come up with the next game changing product the way Jobs Apple did with the iPhone.




How is he getting on getting AirPods out of the door? Homepod? He might be getting the iPhone out of the door (with some help from Chinese child labour) but it has come at the expense of everything else.

What Apple has accomplished this year can be summed up as overpromised and under delivered.





And that is a big mistake. Ive is obsessed with design and not the usability of a product, probably why so much of Apples hardware/software caters to form rather than function these days.

Spot on. Ive fails badly on usability ! Remember the Leica camera he designed , completely missed the point of photography just so the form looked good.

 

[itguy06]

He's very unassuming. Have seen him in Starbux with his iPad. And walking around Palo Alto in the downtown. All solo, without an entourage of people around him. Quite different than a couple of other huge tech company CEOs in silicon valley.
[doublepost=1514467888][/doublepost]

Now that's a real knee slapper!

So then tell me what new things has Tim done that are as revolutionary or even as good as the iMac, iPod, iPhone, and iPad?

 

[123]

Cook is amazing, and has been responsible for most of the achievements of Apple

Exactly, he is responsible for most if not all of the achievements of the past few years, which are, give or take a half, zero.

While I don't think that he personally made a lot of bad decisions, not to act when he should have is just as bad. Not only is his uninspired understanding of the tech world (and Apple) a major hindrance to innovation, he also lets Ivy pursue his quest for the thinnest, most useless device ever created without ever questioning whether thin actually means pro... Because what would he know about that kind of stuff, as long as people are paying $$.

 

[apolloa]

Considering Apple's CEO can't stop pandering to every SJW that crosses his path I'm not so sure one is needed. Cook is nothing more than a fraud when it comes to Civil Rights. He'll talk tough when he's in front of an audience but when it comes to putting the rubber to the road in places like China or the Middle East (where the LGBT community is killed on a daily basis) he suddenly becomes silent.

If he and the board do not want a human rights committee then Cook has no right to use Apples name to support gays and the gay rights movement, and is as you say just a hypocrite, I was also thinking it would help the poor people making their products possibly, but I guess Apple isn’t really that interested in their welfare and more concerned with costs..

Do you have a source for that? Cook didn't come from wealth. And even though he lives very modestly (renting a condo until a couple years ago), why would he not take a salary? And why do you find him taking a salary disgusting?

I stated I thought he said he wouldn’t accept a salary hence I was disgusted, so I’m not sure what you didn’t understand with my comment? And no I did a quick google and couldn’t find it so maybe I was thinking of Jobs?
I also fail to see how he chooses to love or that he didn’t come from any money affects my comment?


Personally I think they have done a interesting job, they’ve elected to ignore their computer range and it’s users, this mistake being so bad in the Pro market it’s lead them to do something they never do, promote future products years before release.

Instead they’ve concentrated on services and iOS devices. This is alright, but they have clearly not taken software quality control as a priority... I’ve had so many bugs with iOS 11, even after the latest update my iPad Pro now has a ? and ! instead of . and , even though these are the characters I get....

To me this is why they do not deserve their high salaries, they need to deliver if they are to earn the mega bucks and to me they haven’t.

 

[citysnaps]

Joseph Stalin also lived very modestly.

I have very little respect for the liberal CEOs who are fine with their retail employees making peanuts while they are raking in hundreds of millions.

I’m not an Apple employee so this doesn’t affect me personally. Neither am I liberal in my political views. I disagree with Tim Cook on basically everything, but these compensation levels are especially obscene especially for a bean counter like Tim.

Let’s not forget where the Apple wealth comes from. It is from taking advantage of stupid tax policies imposed by the US government on corporations and Tim’s skill in outsourcing production to slave labor in China. He calls this “inventory management”.

"I have very little respect for the liberal CEOs who are fine with their retail employees making peanuts while they are raking in hundreds of millions."

How much should Apple's retail employees be paid, relative to other retail employees selling merchandise at other retail stores a block away. Pick a number.


"Let’s not forget where the Apple wealth comes from."

Forget? Why? It's easy. Roughly 70% of Apple's wealth comes from developing, manufacturing, and selling >200+ million iPhones per year.

That's more than 500,000 people opening their wallets every day, purchasing expensive and highly desired phones. And then repeating that process again (and again) a couple years later. The other 30% comes from computers, other devices, and services.

 

[bladerunner2000]

Did he earn enough money? I feel 1/10th of a billion isn't enough money to satisfy his greed.

 

[Sy7ygy]

In B4 all the libs show up to say “No one deserves to make that much money.”

Why would they? He's one of them.

 

[citysnaps]

I stated I thought he said he wouldn’t accept a salary hence I was disgusted, so I’m not sure what you didn’t understand with my comment? And no I did a quick google and couldn’t find it so maybe I was thinking of Jobs?
I also fail to see how he chooses to love or that he didn’t come from any money affects my comment?

Usually when someone make a claim on a public forum, that rises to the level of one being "disgusted," I usually assume that comes from fact, rather than thin air or made up stuff. My apologies for assuming a higher standard.



"I also fail to see how he chooses to love or that he didn’t come from any money affects my comment?"

What? Why are you bringing up "how he chooses to love?"

You don't understand how not comping from money affects your comment? I'll help you out. Some CEOs who are wealthy choose to not accept a salary - they don't need the money (and there may be other reasons). Like Steve Jobs.

 

[Rob_2811]

It's more about viewing them in their proper context. No company ever gets it perfectly right out of the gate, and I do feel it's no mean feat for Apple to do as much as it is today. They have updated 4 separate software lines, refreshed a ton of products in their lineup this year, in addition to launching a few new lines, plus maintaining their own ecosystem. I don't think there is any other company quite like them in this regard.

Heck, even Google has trouble making enough of a low-volume product like the Pixel phone, while Apple easily sold over 200 million iPhones in a year. I just think that people tend to take for granted the things Apple does well (or does so effortlessly despite the massive logistical coordinating which goes on behind the scenes) because it's not sexy and doesn't quite capture the imagination like travelling to space, but it's an important part of running any successful company nevertheless.

Issue blame if you must, but do so in the proper context of Apple's achievements and milestones for the year. Not nitpick at them in a vacuum.

Again you are giving them credit for things that they have done poorly.

Yes they've updated 4 separate software lines. I cant comment on TVOS or the Watch because I dont use them, but iOS11 is a mess, its buggy and doesnt even run well on the latest hardware and macOS High Sierra shipped complete with critical security vulnerabilities.

If you think that is "nitpicking" then thats up to you but you've got a higher tolerance for poor quality and sloppy QA testing than I have.

 

[MH01]

Usually when someone make a claim on a public forum, that rises to the level of one being "disgusted," I usually assume that comes from fact, rather than thin air or made up stuff. My apologies for assuming a higher standard.



"I also fail to see how he chooses to love or that he didn’t come from any money affects my comment?"

What? Why are you bringing up "how he chooses to love?"

You don't understand how not comping from money affects your comment? I'll help you out. Some CEOs who are wealthy choose to not accept a salary - they don't need the money (and there may be other reasons). Like Steve Jobs.

Maybe it's suppose to be "live" in context of the discussion.....

 

[sirozha]

"I have very little respect for the liberal CEOs who are fine with their retail employees making peanuts while they are raking in hundreds of millions."

How much should Apple's retail employees be paid, relative to other retail employees selling merchandise at other retail stores a block away. Pick a number.


"Let’s not forget where the Apple wealth comes from."

Forget? Why? It's easy. Roughly 70% of Apple's wealth comes from developing, manufacturing, and selling >200+ million iPhones per year.

That's more than 500,000 people opening their wallets every day, purchasing expensive and highly desired phones. And then repeating that process again (and again) a couple years later. The other 30% comes from computers, other devices, and services.

I'm an AAPL shareholder, and I gauge the success of Apple by various metrics for my own benefit while deciding whether I should continue to hold my position in AAPL, if I want to invest more in AAPL, and when I should get out of AAPL. I've been long in AAPL, but I do not want to become complacent.

My personal observation since Steve Jobs passed away is that Apple retail has become mediocre and arrogant. I feel this personally every time I visit Apple stores. It gives me no joy to experience this because this is a bad trend for any company, but especially for Apple. In my opinion, working for Apple should be a privilege. Apple should be getting the best talent in engineering, in design, and in retail. To get the best talent, Apple must offer the best salaries. Not just competitive salaries. Not just marginally better than the store next door. Significantly better salaries for significantly better people.

Unfortunately, this has not been Apple's policy lately. Visiting Apple retail makes the same impression on me as visiting Starbucks (which I almost never do anymore). Just like Starbucks has become glorified fast food, Apple stores are now glorified BestBuy. This is not good for the brand, and neither this is good for the future of my AAPL portfolio. I'm strictly speaking here as a shareholder. In my opinion, it would be good for shareholders if Apple paid their retail employees livable wages so that those who do not aspire to be engineers can think of working in Apple retail as their careers rather than treating their jobs as just a retail job that helps them get by.

I do not see any pride in having an Apple job or humility toward customers in Apple retail employees anymore like I saw a decade ago. All I see is a bunch of rude and arrogant retail clerks who make 1/10 of what I make, know 1/10 of what I know about Apple products, but yet treat me as though I should be thankful to them for their very existence when I visit an Apple store. I see a lot of complacency and arrogance from the Apple retail. I am not exposed to Apple engineering, but I see a lot of similar attitude from Apple Care nowadays. I think this culture of complacency and arrogance has permeated the entire company.

Steve Jobs had a right to be arrogant. He was the founder of Apple, and he was the visionary that drove Apple to its current heights. Tim Cook has no right to be arrogant. He is just a bean counter and he is simply riding on the coat tails of Steve Jobs. Steve Jobs created a tremendous momentum that continues to propel Apple even 6 years since his death. But, the arrogance of bean counters will eventually come back to bite them and me (as a shareholder) in the tail. The competition is not sitting idly. The competition is working diligently and is catching up.

 

[Iconoclysm]

Remember how Jobs only took $1 a year for salary?

Remember how the article pointed out Tim's salary was literally 30 times less than his total compensation?

 

[technopimp]

Given everything Apple has managed to accomplish this year, I do feel that Tim Cook deserves every cent he earned (and yes, I know this is going to be a very controversial statement).

Different people are needed at different points in a company history. Jobs was right for his era, but he would have been a disaster for the Cook era.

Cook is amazing, and has been responsible for most of the achievements of Apple, but not the initial innovation and concept that Jobs provided. Cook has refined the culture and expanded it, and has done as fine a job as any CEO in American history, if not world business history.

And I respectfully disagree with everything you said about him.

 

[Howl's Castle]

Did he earn enough money? I feel 1/10th of a billion isn't enough money to satisfy his greed.

So making money is greed? ****! I guess I'm greedy then!

 

[bladerunner2000]

So making money is greed? ****! I guess I'm greedy then!

100+ million?! You know at some point you've reached an amount where MORE money doesn't solve anything.

 

[swingerofbirch]

The very fact that they almost went under was due to them trying to cater to those old core customers. From your post it sounds like you basically want them to either tread water so that you feel like part of some exclusive club or fail if they don’t give you enough attention.
[doublepost=1514439858][/doublepost]

That Apple of the past knew something was wrong and was trying hard to course correct. There are so many people supporting Apple now who don't care or don't see the problems Apple has that Apple doesn't see a need to course correct.

 

[apolloa]

Usually when someone make a claim on a public forum, that rises to the level of one being "disgusted," I usually assume that comes from fact, rather than thin air or made up stuff. My apologies for assuming a higher standard.



"I also fail to see how he chooses to love or that he didn’t come from any money affects my comment?"

What? Why are you bringing up "how he chooses to love?"

You don't understand how not comping from money affects your comment? I'll help you out. Some CEOs who are wealthy choose to not accept a salary - they don't need the money (and there may be other reasons). Like Steve Jobs.

My apologies for assuming you were capable of understanding my post..
And the word ‘love’ was the usual iOS 11 attempt at correcting a typo, just like your word ‘comping’? What the hell do you mean by that? Is that a foreign language to English?

Also you have no clue about history either, Jobs wasn’t some millionaire born with a silver spoon in his mouth, perhaps you should research more before you post eh? And stop making assumptions that make you look arrogant.

 

[Rogifan]

How on earth did you come to that conclusion ? That I said Apple fans are not very bright.... Just looking to bicker?

You are on your own here ....

You said Apple was milking its products. How can that be possible unless Apple customers are a bunch of iSheep who will buy anything the company releases?

 

[apolloa]

I'm an AAPL shareholder, and I gauge the success of Apple by various metrics for my own benefit while deciding whether I should continue to hold my position in AAPL, if I want to invest more in AAPL, and when I should get out of AAPL. I've been long in AAPL, but I do not want to become complacent.

My personal observation since Steve Jobs passed away is that Apple retail has become mediocre and arrogant. I feel this personally every time I visit Apple stores. It gives me no joy to experience this because this is a bad trend for any company, but especially for Apple. In my opinion, working for Apple should be a privilege. Apple should be getting the best talent in engineering, in design, and in retail. To get the best talent, Apple must offer the best salaries. Not just competitive salaries. Not just marginally better than the store next door. Significantly better salaries for significantly better people.

Unfortunately, this has not been Apple's policy lately. Visiting Apple retail makes the same impression on me as visiting Starbucks (which I almost never do anymore). Just like Starbucks has become glorified fast food, Apple stores are now glorified BestBuy. This is not good for the brand, and neither this is good for the future of my AAPL portfolio. I'm strictly speaking here as a shareholder. In my opinion, it would be good for shareholders if Apple paid their retail employees livable wages so that those who do not aspire to be engineers can think of working in Apple retail as their careers rather than treating their jobs as just a retail job that helps them get by.

I do not see any pride in having an Apple job or humility toward customers in Apple retail employees anymore like I saw a decade ago. All I see is a bunch of rude and arrogant retail clerks who make 1/10 of what I make, know 1/10 of what I know about Apple products, but yet treat me as though I should be thankful to them for their very existence when I visit an Apple store. I see a lot of complacency and arrogance from the Apple retail. I am not exposed to Apple engineering, but I see a lot of similar attitude from Apple Care nowadays. I think this culture of complacency and arrogance has permeated the entire company.

Steve Jobs had a right to be arrogant. He was the founder of Apple, and he was the visionary that drove Apple to its current heights. Tim Cook has no right to be arrogant. He is just a bean counter and he is simply riding on the coat tails of Steve Jobs. Steve Jobs created a tremendous momentum that continues to propel Apple even 6 years since his death. But, the arrogance of bean counters will eventually come back to bite them and me (as a shareholder) in the tail. The competition is not sitting idly. The competition is working diligently and is catching up.

They are staff that fit the modern day, they feel like their work comprises making money so Cook and co can take their millions home and shareholders such as yourself can make their millions, they get paid a small amount, or as it’s worded these days ‘compensation package’, it all makes you feel pretty unappreciated and you don’t really care for your employer.
That’s what I imagine anyway, it’s not uncommon for directors to earning hundreds of times more then their lower workers and that’s their base pay!

Also to add the competition has far exceeded Apple in AI and Pro computers. They are no longer catching up, Apple is.

 

[Rogifan]

So then tell me what new things has Tim done that are as revolutionary or even as good as the iMac, iPod, iPhone, and iPad?

The only product on your list that anyone thought was revolutionary was the iPhone. People called the iPod lame and the iPad just a big iPod Touch.