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Tim Cook Reaches Five Years as Apple CEO, Unlocks Over $100 Million in Bonuses
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Good. Take your never ending supply of money and leave Apple to someone who cares about products more than social causes.
I can't believe with billions of R & D money and the top engineers in the world,
this guy left Apple products outdated for over 4 years and still received the bonus.
- MacBook slow, with one port and 480p cameras
- neutered Mac mini with soldered ram
- ancient Mac pro that creates a cable mess and external boxes everywhere on your desktop
- slow 5400rpm HD and soldered RAM into iMacs
- horrible iOS design with skinny fonts on white background and no buttons
- mouse with charging port at the bottom
- iPad pen with 'male' port
- nasty bumps on battery case
- nasty camera bumps on $1000 iPhones
- apple tv without 4k
- slow iWatch and useless overpriced watchbands
Can this guy get one right ?
All he has been working since 2011 is how to remain glued to the CEO chair
at the expenses of apple and it's customers.
Every apple board members personally benefits from his actions and favors and they will never fire him, even if they know he is a mess.
He fired forestall because Scott wouldn't kiss his dirty ass. Scott would have eventually get him fired and exposed Timmy ignorance and greed.
Apple needs a serious Carl Icahn 'old school' intervention that will fire Timmy and replace the entire Apple board
this guy left Apple products outdated for over 4 years and still received the bonus.
- MacBook slow, with one port and 480p cameras
- neutered Mac mini with soldered ram
- ancient Mac pro that creates a cable mess and external boxes everywhere on your desktop
- slow 5400rpm HD and soldered RAM into iMacs
- horrible iOS design with skinny fonts on white background and no buttons
- mouse with charging port at the bottom
- iPad pen with 'male' port
- nasty bumps on battery case
- nasty camera bumps on $1000 iPhones
- apple tv without 4k
- slow iWatch and useless overpriced watchbands
Can this guy get one right ?
All he has been working since 2011 is how to remain glued to the CEO chair
at the expenses of apple and it's customers.
Every apple board members personally benefits from his actions and favors and they will never fire him, even if they know he is a mess.
He fired forestall because Scott wouldn't kiss his dirty ass. Scott would have eventually get him fired and exposed Timmy ignorance and greed.
Apple needs a serious Carl Icahn 'old school' intervention that will fire Timmy and replace the entire Apple board
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To think he'll donate most of his wealth to charity.
Please send all donations to: Save the Poor Apple Users Foundation.
SPAUF Cares.
Please send all donations to: Save the Poor Apple Users Foundation.
SPAUF Cares.
Say what you want about Tim and leadership skills or lack of innovation but you cannot say he isnt a generous person with helping charities or causes.Bravo Tim.
Worth bearing in mind next time Apple publishes yet another self-congratulatory "responsibility" report. It's probably quite telling that they atomise the issues and never take on the broader concept of a full social responsibility report. Because paying people like this is really building social problems:
http://www.huffingtonpost.com/entry/ceo-worker-pay-gap_us_55ddc3c7e4b0a40aa3acd1c9
BUSINESS
Here’s How Outrageous The Pay Gap Between CEOs And Workers Is
Some execs earn more than 1,000 times as much as their median workers.
08/27/2015 09:05 am ET
If you thought CEOs were earning way too much while the bulk of their companies’ employees got left behind — well, you weren’t wrong.
The pay gap between chief executives of major U.S. firms and their median workers is massive, according to a recent report from career review site Glassdoor, which looked at data from 2014. The average pay ratio of CEO to median worker was 204-to-1, the report found. At the top of the list, four CEOs earn more than 1,000 times the salary of their median worker.
rest at:
http://www.huffingtonpost.com/entry/ceo-worker-pay-gap_us_55ddc3c7e4b0a40aa3acd1c9
BUSINESS
Here’s How Outrageous The Pay Gap Between CEOs And Workers Is
Some execs earn more than 1,000 times as much as their median workers.
08/27/2015 09:05 am ET
If you thought CEOs were earning way too much while the bulk of their companies’ employees got left behind — well, you weren’t wrong.
The pay gap between chief executives of major U.S. firms and their median workers is massive, according to a recent report from career review site Glassdoor, which looked at data from 2014. The average pay ratio of CEO to median worker was 204-to-1, the report found. At the top of the list, four CEOs earn more than 1,000 times the salary of their median worker.
rest at:
http://www.huffingtonpost.com/entry/ceo-worker-pay-gap_us_55ddc3c7e4b0a40aa3acd1c9
Android has a strategy? Seriously, who's making money in that camp besides Samsung and Google? And both of them combined make less than Apple. Not to mention, Google makes more advertising revenue from Apple's platform than Android.
As long as Apple continues to dominate the high end of the market and suck up most of the profits, developers, media companies, accessory manufacturers, etc. will continue to support iOS; in many cases, they'll do it first and/or better.
Greed is an addiction and knows no bounds. It's NEVER ENOUGH for most people else the top 1% would not control 50% of all wealth in the world (with the top 1% in the USA controlling 90% of the wealth in this country) and one person averaging a month to make what a CEO makes in ONE HOUR.
Robber barons of the past century used to compete against each other to see who could be on top. It doesn't matter if they could spend it or not. You want to be #1. You want to be the richest, the most powerful, etc. In short, people have massive EGO issues and it's costing the rest of the world just trying to get by.
As for creating new products, the CEO doesn't normally do that at all. It's lesser people on the totem pole. Johnny Ive will push an idea and lesser beings making a fraction of what he makes implement it and then outsourced people in China making JACK SQUAT actually have to build it. Crap rolls down hill. That's uncontrolled Capitalism. It's why $96 EPI Pens now cost over $600 (the company that bought it wants more profits so they just jacked up the price willy-nilly and since there are no longer any competing products, they get what they ask for and the tax payer foots the bill for Medicaid, etc.
Why do you need regulation? Because without it, human beings have proven themselves to be greedy SOBs that will almost NEVER do the "right thing" by others and they always push the excuse on the shareholders or whomever thus guaranteeing that a corporation will always do the most greedy thing possible WITHOUT regulation FORCING us to (sooner or later) regulate or re-regulate industries run amok. At some point the good of the many should outweigh the good of the few (or the one), but not in thinly disguised Oligarchies and Crony Capitalistic societies where you pay off/bribe/lobby the government to let you do anything you want.
That is not so true these days. They haven't been big into software development (non iOS wise) for quite sometime. Only a few ships in that port...and they aren't what I would view as top of the line flagships anymore.
With mac os relying very heavily upon 3rd party at this point that ecosystem is not so secure really. My usual rant is a switch today has every application I use except 1 look and work the same on windows as it does mac oc. I am only stuck because an avid license is not cheap. that is being addressed...little bits of money diverted to that special savings fund over time.
I see apple needing to make choices soon. They have the world hooked on iOS to a certain extent (cba to dig up hard numbers...and won't give out unfounded %'s on android os vs iOS like most internet stats people do lol). Its on apple to try and bring that back to mac os in some way.
Let me rephrase that...back in some way beyond the interesting file system they have in development. Proprietary files systems don't keep people loyal/stuck. I get stuff to/from Linux/mac os/ntfs all the time. its the applications I use that determine how long and often I hit that OS.
When we can get the same apps on fresher hardware running windows (or Linux even) apple may see in time we aren't stuck with them basically. Apple zealots will always make them money. Its keeping the non zealots sales that may be an issue in time.
Jesus we gotta look at CEO compensation regulation in this country. Nothing against Tim but $500M for ten years work? That ain't right in any context.
Oh but he will change the world with all his social justice fights and watchbands.....as he is sitting on a $10,000 chair on his $26,000 marble floor in his $89,990,000 home. Its good for everyone! He is a man of the people!!!!!
Except they are raking in more and more profits, the ONLY thing a corporation must do. All the rest of the cool stuff they do is extra.
I'm not saying what Apple "should" or should not do, since I'm not privy to their business tactics, and neither are you. We can make estimations and talk about what we think would be best, but none of us really know what's best for Apple. You are talking about Apple's decline as they are earning nearly 100% of the profits for the mobile phone industry. I'd love to have their problems.
Yeah. It they had a market share of a teeny market. They basically just focused on email and thought they were done. Years went by and nothing they did was much more than adding a color screen. They thought the market was corporate guys getting work emails. Funny part is that they sold way more blackberries after they were clearly messed up. The iPhone launched in 2007 and blackberry's peak sales year was something like 2011. But they were so far behind the trend at that point it was sad. And when they finally released a good OS and a good device for accessing the Internet, it was all about Apps for social media. Too late.
Apple could do something to soar to new levels again. I'm astonished at how time flew by. I remember when he was appointed there was a swath of commentary, mainly from the political right, based on his sexuality. I really want to see Apple go back to their roots of the late 90s and early 2000s and come out with revolutionary products. I think the iPhone SE was a fantastic product release that allowed people to get somewhat older tech in a decent page for decent money.
"I'm glad Tim Cook hasn't failed as hard as you have today. As a shareholder and Apple product user I'm pretty damn happy. There are certain features I want from competing products, but no products overall make me want to sell my MBP, iPad or iPhone just yet."
All about the stock, like Tim. I'm glad you enjoy your products. I'd just like to move out of 2014 at some point.
Wish I had that selective vision. Must make life really easy:
"As a shareholder and Apple product user".
My shareholding is simple, if I like and use the company I usually invest (it's served me well, Apple, Google, Netflix for example). On the flip side if I no longer think the products a company are making are any good I sell (I sold Microsoft around Vista as that's when I switched fully to Macs at home). No rocket science.
As I said my 2 year old iPhone 6, 5 year old MBP, 5 month old iPad Pro and year old Apple Watch all work as advertised and I don't want to swap them for competing devices.
I'd just like to move out of 2014 at some point.
As I also said, sure I want certain features from competing devices. But I also want Apple features in theirs.
- Samsung pretty much just the other day launched Samsung Cloud (https://news.samsung.com/global/sam...o-upgrade-back-up-and-sync-your-galaxy-device). I've used and loved iCloud backup for 4 years. I'm not going to sit about and say "welcome to 2012 Apple user experience, Samsung".
- Samsung phones still come pre-loaded with a plethora of bloatware and services - https://www.reddit.com/r/Android/comments/4yy3mn/with_the_note_7_samsung_still_delivers/d6rbdea. I'm not going to sit about and say "welcome to the 90's Windows PCs user experience, Samsung".
- Samsung launched fingerprint scanning in 2014. I didn't say "welcome to functionality Apple had in 2013, Samsung".
But it works both ways. I want better black levels/back lighting on my iPhone like on the Apple Watch and Android flagships so I'm looking forward to OLED or Micro LED. I would like better waterproofing (that actually works - http://www.consumerreports.org/smar...fails-consumer-reports-water-resistance-test/). I want wireless charging, but not just a charging pad - inductive. etc.
Whilst you are recording record sales & revenue over a 5 year period, you would actually have to be pretty stupid to change anything.
As the rest of the competition has caught up of overtaken Apple in most areas, I'd like to think that Apple will now begin to start investing that enormous pile of money into the business and do what they do best and release some great new products and start innovating with existing product lines instead of essentially releasing the same damn things each year.
Under his leadership, Apple went on to become one of the biggest companies in the world. His job clearly involves a lot more than just sitting at his desk and playing with his iPad every day.
If anything, one could argue that Tim Cook actually deserves to be paid a lot more. To put things in context, Apple earned billions every quarter, while its CEO gets paid 50 million a year.
Today marks the fifth anniversary since Tim Cook was named Apple CEO on August 24, 2011, the same day that late co-founder Steve Jobs stepped down as chief executive for the final time and recommended the board of directors appoint Cook as his permanent successor.
Upon reaching the five-year mark, Cook has today unlocked previously awarded stock bonuses currently worth over $100 million. The bonuses are tied to both his tenure and Apple's performance under his leadership, including its total shareholder return relative to the S&P 500 index.
Cook's bonus includes 700,000 tenure-based restricted stock units that vested today as part of a larger compensation package of over 4.7 million shares awarded on August 24, 2011, in addition to his first of six annual installments of 280,000 tenure-based restricted stock units that vested today. The combined 980,000 shares are valued at nearly $106.7 million based on AAPL's closing price of $108.85 on Tuesday.
Cook's bonus could be even higher if Apple's total shareholder return is in the middle third or top third relative to other companies in the S&P 500 from August 25, 2013 through August 24, 2016. He will receive another 140,000 RSUs for middle third performance, or 280,000 RSUs for top third performance. AAPL has risen around 52% since August 25, 2013, while the S&P 500 has risen around 32% in the same time period, making at least a middle third finish a strong possibility.
A restricted stock unit, or RSU, is a form of compensation valued in terms of company stock, but the stock is not issued at the time of the grant. Instead, the recipient gets shares of stock at a later date, generally only if they are still employed by the company. Cook personally requested that his award be modified to adhere to a more performance-based compensation system in 2013. Another 700,000 of his RSUs are scheduled to vest on August 24, 2021, plus 280,000 RSUs each August 24 through 2021.
Cook's net worth, assuming he remains with the company through August 24, 2021 and meets performance targets, is estimated to be over $500 million based on his current stock options and RSUs awarded. He has previously pledged to donate the vast majority of his wealth, including stock bonuses like these, to charities in his lifetime. In May 2015, for example, Cook donated approximately 50,000 shares of Apple stock, then worth approximately $6.5 million, to undisclosed charities.
Cook has overseen the launch of the Apple Watch, MacBook Pro with Retina display, ultra-thin 12-inch MacBook, iPad Pro, several iPhone and iPad models, Apple Maps, Apple Music, Apple Pay, Siri, and many other products and services since taking over the reigns in 2011. Apple became the world's most valuable company in 2012 under his leadership, and it continues to hold that title today. Apple stock has risen over 132% since Cook was appointed as CEO five years ago.
Article Link: Tim Cook Reaches Five Years as Apple CEO, Unlocks Over $100 Million in Bonuses
