Apple Store employees get a 2% to 10% pay raise, Tim Cook gets $99 million.
Seems fair because Inflation.
Seems fair because Inflation.
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Shareholders Advisory Group Doesn't Want Tim Cook to Get $99 Million Pay Package
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Just because a company issues common shares to raise capital doesn't mean that any shareholders that have this opinion will ever get their way. It's always been argued for years that the CEO is overpaid, and most of them are but that is determined by the board of directors. Still the CEO is a lightning rod for everything that goes wrong with a company and also when a company succeeds.
Not sure the lifetime of a person, no matter how good they are at what they do, is 100 or thousand times worth than that of any other. Apple has like 150 thousand employees. If you really wanna throw out a hundred million dollars of incentives you can just as well split those up among all of them, according to their base salary. It's not that I think that Tim Apple doesn't deserve it - but the people that make the company deserve their share just as much.
lol.. no he road the coat tails of the best ceo of all time.
having said that: when your company is 3T.. 100M is nothing.
If Apple was underperforming and coming out with ****** products, I'd agree with you. But they are firing on all cylinders and continue to bring out impressive, well-engineered products and services. Are they perfect in every way? No way, but that's not the point. Apple continues to be where the competition is aiming, and Tim is a major leader of that vision.
while that amount of money is revolting, it's just the lay of the land these days. Cook has presided over unprecedented growth and is at the helm of the world's most valuable public corporation. by all metrics given that playbook - he def deserves it. $99M is chump change to Apple overall and none of it affects any of our day to day lives, so whatevs.
I just wish the people who helped actually make and drive all that profit in the very real sense of those doing the actual labor were considered by the board and shareholders. but again, this is America and our system is built to crush employees, reward the owners.
same can be said for professional athletes. they make a yearly salary the average person could never realize in a lifetime. but then what they make compared to the team owners is peanuts.
the stratification of the American worker vs CEO is mind boggling and without any real congressional leadership or oversight since most everyone in congress is bought off by these same corporations, this is just what we get.
I just wish the people who helped actually make and drive all that profit in the very real sense of those doing the actual labor were considered by the board and shareholders. but again, this is America and our system is built to crush employees, reward the owners.
same can be said for professional athletes. they make a yearly salary the average person could never realize in a lifetime. but then what they make compared to the team owners is peanuts.
the stratification of the American worker vs CEO is mind boggling and without any real congressional leadership or oversight since most everyone in congress is bought off by these same corporations, this is just what we get.
I just cant stand this mentality. Its not at all comparable but people keep wanting to do it. If those people want cooks salary they can go become CEOs. Being a CEO (especially for apple) is not an easy thing to achieve or do. There isn't a single store employee that cant be replaced in a day.Apple Store employees get a 2% to 10% pay raise, Tim Cook gets $99 million.
Seems fair because Inflation.
The stock is doing well, he’s held the fort since 2011 and even before then. Apple has diversified even more: Apple Music, TV+, Services, AirPods, huge major transition to a new native Silicon, iPhone growth seems unstoppable even in a pandemic. Heck, I would give him another 99 million if it was up to me.
Apple has 80,000 employees (not hundreds of thousands) according to: https://www.apple.com/job-creation/
Is this why I pay so much for Apple products?
Apple shareholders are being urged to vote against a planned $99 million compensation package for Apple CEO Tim Cook, reports Financial Times. Shareholder advisory group Institutional Shareholder Services (ISS) said on Wednesday that there is a "significant concern" with the stock Cook was awarded in 2021.
Cook last year was awarded stock valued at $82 million, along with a $3 million salary and a $12 million bonus, and the stock award was the first incentive package he had been granted since his 2011 package was granted in full for his tenure at Apple.
According to ISS, Cook's 2021 compensation "significantly exceeded" that provided by comparable companies last year. It has been seven years since ISS last objected to Apple's pay packages.
Shareholder votes on the compensation that Apple provides to executives are advisory, and the board is not required to take action. Financial Times says that if there is backlash over Cook's pay, it could potentially sway Apple's board. In its proxy statement, Apple says that it will "continue to consider shareholder feedback and the results of say-on-pay votes when making future compensation decisions."
Under Cook's 10-year leadership, Apple has seen continued success and in January, briefly became the first company to hit a $3 trillion valuation. Apple executive compensation is tied to company performance, and Apple has regularly hit its targets.
Article Link: Shareholders Advisory Group Doesn't Want Tim Cook to Get $99 Million Pay Package
Number taken out of context - that was a "special" raise. They also get a raise in October, so the total percentage is higher. Granted - still not $99MApple Store employees get a 2% to 10% pay raise, Tim Cook gets $99 million.
Seems fair because Inflation.
Historically you pay less for Apple products then many years ago.
Well ya.. I mean Apples greed knows no bounds for sure.
They’re just jealous they aren’t getting that payout themselves. I smell ambulance chasers.
You don't see the CEO vs regular worker pay gap as a problem?
CEO pay has skyrocketed 1,322% since 1978: CEOs were paid 351 times as much as a typical worker in 2020
What this report finds: Corporate boards running America’s largest public firms are giving top executives outsize compensation packages that have grown much faster than the stock market and the pay of typical workers, college graduates, and even the top 0.1%. In 2020, a CEO at one of the top 350...
www.epi.org
How the CEO-Worker Pay Gap Deepens Income and Wealth Inequality
While working families are suffering under the pandemic, corporate boards have bent the rules to protect massive CEO paychecks.
ips-dc.org
In which direction would you like to see Apple head?
Everybody loves when an Armored Truck spills thousands of cash on a highway. Shareholders are no different.
Apple shareholders are being urged to vote against a planned $99 million compensation package for Apple CEO Tim Cook, reports Financial Times. Shareholder advisory group Institutional Shareholder Services (ISS) said on Wednesday that there is a "significant concern" with the stock Cook was awarded in 2021.
Cook last year was awarded stock valued at $82 million, along with a $3 million salary and a $12 million bonus, and the stock award was the first incentive package he had been granted since his 2011 package was granted in full for his tenure at Apple.
According to ISS, Cook's 2021 compensation "significantly exceeded" that provided by comparable companies last year. It has been seven years since ISS last objected to Apple's pay packages.
Shareholder votes on the compensation that Apple provides to executives are advisory, and the board is not required to take action. Financial Times says that if there is backlash over Cook's pay, it could potentially sway Apple's board. In its proxy statement, Apple says that it will "continue to consider shareholder feedback and the results of say-on-pay votes when making future compensation decisions."
Under Cook's 10-year leadership, Apple has seen continued success and in January, briefly became the first company to hit a $3 trillion valuation. Apple executive compensation is tied to company performance, and Apple has regularly hit its targets.
Article Link: Shareholders Advisory Group Doesn't Want Tim Cook to Get $99 Million Pay Package