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Apple Defeats Lawsuit Claiming It Overpaid Tim Cook and Other Execs

It’s such a stark contrast when Apple is involved in a flurry of legal battles compared to others. Almost like Apple can always win, even though that’s not really the case.
 
This has been the stupidest ****ing argument going on well over a year. Apple has blown the absolute **** up as a company in the last decade, and it was under his watch. Whatever ridiculous sum he was contractually obligated to make if number went up is 100% what he both negotiated for and should be getting.

He's running a company whose audio division sells 3 products, total, and makes more money on those than the 1st and 2nd leading audio product makers combined.
 
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xizdun said:
He has also pledged “to donate $800m fortune to charity before he dies”.
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That's great and all, but what does a person planning to donate their wealth have anything to do with whether or not they're overpaid? (Not saying Tim Cook is or isn't overpaid).

Besides, not all charities are the same. For all we know, Tim Cook could be donating his wealth to DAF's to get a tax break while the donated money just sits for decades instead of being used for actual charitable work, or he could be donating to foundations and charities that support causes that benefit the wealthy (i.e. himself).
 
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Not only did they lose a frivolous law suit, but they may have to pay Apple legal fees. Whoever approved this move by the pension fund should be fired on the spot and have the board investigate him/her for negligent mishandling of assets.
 
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tehabe said:
The worst thing about CEO pay is, it is depends on the stock not how the company is actually doing. And yeah, CEOs earn too much, no CEO is worth being paid millions per year while some workers are making barely minimum wage. The idea of "underpaid CEOs" was spread by consulting companies like McKinsey which CEOs loved of course, so McKinsey is essentially a CEO trade union.
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CEOs for private companies (no stocks) are on average paid the same or more as public companies. Its just turns out the skills to handle decisions for billions of dollars are compensated well.
 
zoozx said:
Apple overpaid Tim Cook!

Now all companies need to Stop paying ridiculous amounts to CEO's and start profit sharing for the good of the many, not for the good of the one. Live long and prosper.
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They do profit share. It's called dividends. Apple pays dividends.
 
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Skyscraperfan said:
So Porsche wanted to change that an made the compensation proportional to the success of the CEO. The "problem" was that he was successful, that Porsche had to pay him more that 100 million Euros for a whole year. So again people complained that he was overpaid, although he has proven to be worth every penny.
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Sure, you can say the CEO was too successful. Or you can say the board had too pessimistic (or even artificially low) expectations, in which case nothing was proved.
 
If you consider that all the devices are made in China and that's the only reason why these record profits are made, this provision is pure mockery.
 
svish said:
Tim Cook is paid less than other CEOs. Board of directors will be very happy with the performance of Apple under Tim
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Looking at CEO compensation for 2022, you can say Tim Cook got less than other the CEO's (Tim Cook was 11th highest compensated S&P 500 company CEO) such as those from Blacksone, Alphabet, Peloton, etc., but his compensation was more than many other CEOs.


CEO_pay01.png

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CEO_pay03.png
 
neuropsychguy said:
Isn’t a CEO supposed to run a company and sell things? Are you criticizing Apple for being a successful company that makes products and runs services people spend money on?
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Now if they could just get out of politics.
 
Are they really arguing over $20 million a year when Apple is worth trillions? Craziness
 
The plaintiff, a pension fund affiliated with the International Brotherhood of Teamsters, said Apple in 2021 and 2022 awarded a respective $92.7 million and $94 million to Cook and four other executives by improperly calculating the value of performance-based stock awards.
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That is an obscene amount of money to earn. Tim Cook and the other executives does not make Apple what it is, the workers on the front line does, the ones who have to deal with the public on a day to day basis, the ones who have to come up the new ideas for Apple's new products, the ones who write the code of all the different operating systems, the ones who design the logos, icons and other graphical stuff and the list goes on. Tim Cook and the other executives do not need to be paid those sums of money and they know it. That money could be put to better use by increasing the workers wages but no, Tim and the other executives are not in a million years about to do that. Keep the workers low and the executives high, the status quo must be maintained at all costs.
 
I think it's criminal that Apple can't pay their employees whatever they want. It's their company. They should make those decisions with zero oversight.
 
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mcilwraith said:
poor Tim. only $63 million. to say he is underpaid is just ridiculous. no CEO should be paid this.
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Nothing is stopping you from starting up your own business, growing it to the point where it's worth trillions, and then choosing to pay yourself minimum wage.
 
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xxr said:
Can people please stop attributing Apple's stock price increase to Tim Cook. You could have put a monkey in charge of Apple after Steve died and the stock still would have risen. Steve left the company when it was years ahead of the competition, it simply carried on momentum. Even to this day Apple's decade old software which has seen minimal improvements still has the usability edge on the competition. It's not a compliment to Tim, it's a nod to the incredible company Steve left behind.
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He left them the playbook for the next ten years. No coincidence he put the operations executive in charge.

This is why iOS is slipping from a usability perspective though. They seem to be afraid to touch anything that matters, like letting us put icons where we want them or send scheduled text messages. They just keep adding photo features and stickers.
 
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