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Shareholders Advisory Group Doesn't Want Tim Cook to Get $99 Million Pay Package
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Presented solely for comparison purposes, Satya Nadella is getting $50 million for 2022 - a 12% increase over 2021.
Microsoft is ranked #2 in valuation, about $500 million behind Apple.
As a follow up to my rant, I am not pleased with some of the QA issues coming out of Apple. Many janky things that would take too long to list.
If withholding a pay package resulted in improved QA metrics, then I am all for it.
I also live in a reality based world in which tech is as only perfect as the human beings behind it. When those behind it have the motivation to meet shareholders needs, me wanting everything to work as is, goes out the window.
I also am of the belief that if every thing work in tech, there would be no jobs. Work arounds = job security.
This post contains hints of sarcasm.
If withholding a pay package resulted in improved QA metrics, then I am all for it.
I also live in a reality based world in which tech is as only perfect as the human beings behind it. When those behind it have the motivation to meet shareholders needs, me wanting everything to work as is, goes out the window.
I also am of the belief that if every thing work in tech, there would be no jobs. Work arounds = job security.
This post contains hints of sarcasm.
You need to get a calculator.
For example: if the CEO for Walmart worked for FREE and you divided his salary up to all the employees they would all make like an extra $200 a year. Congratulations, you've changed their lives!
“Apple executive compensation is tied to company performance”
So long as the slide rule used to determine this calculation is correct and appropriate, Tim deserves all the compensation he is entitled to. Maybe the stockholders should look at that slide rule instead.
So long as the slide rule used to determine this calculation is correct and appropriate, Tim deserves all the compensation he is entitled to. Maybe the stockholders should look at that slide rule instead.
I am all for investor scrutiny of senior executive compensation in publicly-traded companies. Whatever one thinks of Tim Cook's leadership, it's indisputable that the ratio of senior executive compensation to average compensation is dramatically different from what it was just a couple of decades ago. This trend has not been matched by any trend in "success" metrics. It's not economically healthy for this disparity to exist.
His compensation is obscene by any metric
Something legitimate that might stir up shareholders. This is not new from this ISS.
Did anything happen previously. Nope.
Walmart is its own bag of hurt
We are all subsidizing them underpaying their entire workforce (via various welfare programs)
It's obscene.
Giving it to charity where a large part of it will go towards financing the operation of the charity (CEO pay) instead of the cause the charity is fighting for. ?
He certainly deserves it!
Cook's superior leadership led Apple's 150,000+ employees and the company during a devastating global pandemic, yet still produced record sales, reflected by the many millions of happy customers, many repeat, purchasing Apple products and services, year after year after year.
The market has spoken.
Cook's superior leadership led Apple's 150,000+ employees and the company during a devastating global pandemic, yet still produced record sales, reflected by the many millions of happy customers, many repeat, purchasing Apple products and services, year after year after year.
The market has spoken.
Well said.
Most charities are their own partial con operation in the way you mentioned there
Really rich people love laundering their reputations with them though!
To give 80,000+ employees between 2 and 10% increase is likely more than $99million dollars to the company.Apple Store employees get a 2% to 10% pay raise, Tim Cook gets $99 million.
Seems fair because Inflation.
Even Jony Ive had to convince Steve Jobs that phablets were the future, or else Apple would have stuck with 4-inch devices.
One man can do a lot, but it's still very much a team effort.
He makes more in a year than any single person needs in a lifetime.
I commend him for helping Apple to become so profitable, and I have no idea how much he deserves to earn, but it's okay to want to understand how they arrive at that payment amount.
The argument that we should just become a CEO if we're jealous of him doesn't really help anyone. We can't all be CEOs, nor should we all aspire to be CEOs. Inequality will just get worse if we don't examine these things.
I don't believe everyone working at Apple must become a millionaire, but fair wealth distribution should be something we strive for in the future. What is fair? That's not an easy answer. I don't know, but let's figure that out together.
This is not an Apple issue. It's much bigger than that.
I commend him for helping Apple to become so profitable, and I have no idea how much he deserves to earn, but it's okay to want to understand how they arrive at that payment amount.
The argument that we should just become a CEO if we're jealous of him doesn't really help anyone. We can't all be CEOs, nor should we all aspire to be CEOs. Inequality will just get worse if we don't examine these things.
I don't believe everyone working at Apple must become a millionaire, but fair wealth distribution should be something we strive for in the future. What is fair? That's not an easy answer. I don't know, but let's figure that out together.
This is not an Apple issue. It's much bigger than that.
what crap, the guy makes apple 3 trillion dollars!!!! Give him a bonus!!!
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
Tim was hand picked by Steve Jobs. Be careful what you say, the next CEO could be worse than what you think Tim Cook is doing. Could be what takes Apple down.
People keep mentioning market cap as being the relevant figure. I think annual revenue is more appropriate because we're talking about annual compensation. In this case, his proposed pay is 1/3650 of Apple's annual revenue.
ETA: I'm bad at math.
ETA: I'm bad at math.
I think the last year or two has been the best Apple product years in a long long time. They revered all the mistakes they made in the last decade.
We don't even know to which organizations Cook will donate his wealth. For all we know, a large part of it could go to the theaters and the arts instead of actually helping people.
How philanthropy benefits the super-rich
The long read: There are more philanthropists than ever before. Each year they give tens of billions to charitable causes. So how come inequality keeps rising?
A new reason Americans are getting leery of billionaire donors
News about how little income tax some of the richest Americans reportedly pay is adding to questions about the value to society of their massive charitable donations.
theconversation.com
It’s been a decade, get over SJ people. Let him go. In the time since, Tim has led and is still leading the most profitable and valuable company in existence. The bold shift to in-house chips alone is reason enough to keep him. That is not the performance you replace a CEO for, LOL. His compensation is like change Apple would find between its figurative couch cushions.
