Tim Cook's Pay Was $1.5 Million Less in 2016 as Apple Missed its Own Performance Targets

[epicrayban]

iPhone, iPhone, iPhone .... What about Mac?

If you're asking me personally, I am not particularly happy with the direction that they're taking their Mac lines in of late. For the first time in decades, I'm seriously exploring alternatives for my computing needs. Chromebooks seem rather promising. Thankfully, I'm in no rush to update my Macbooks or iMacs or Thunderbolt display. They're all only an average of a couple of years old. But in the near future? We'll see what big promises Cook and co have lined up for future Macs...

To bring it back to the iPhone, they've long lost me on that end. It's the only tech device that I have that isn't Apple. Perhaps they'll sway me back this year.

 

[Nautilus007]

This dude is so overpaid its crazy, i can't believe he's still CEO.

 

[GigabitEthernet]

Finally somebody is getting the message at Apple that the company is going to ****.

 

[leroypants]

How could they possibly miss their goal when the Airpods are a "runaway" success and their were more preorders for the new MacBook Pro than any previous generation?

 

[MarkB786]

What does he actually do? He doesn't spur product updates unless it is a phone.

I'm concerned about this too. Even Jobs said Cook was more of a supply chain guy and not a product guy. And seeing the failed negotiations lately, I'm not so sure about the supply chain skill either. If Ives goes, Apple goes. Ives is Apple's only remaining thread of hope.

 

[3568378]

Not a good year for Apple for some its products, plus there was an economic slowdown... Hope the iPhone 8 and the CPU upgraded MacBook Pros in 2017 will be better...

Economic slowdown? Gas prices were lower than they had been in years; the stock market was booming by the end of 2016--both based on hype and manipulation as usual, but nevertheless creating more disposable income for folks. Call the problem what it is: Cook simply didn't release enough Apple Watch bands. ...and certainly didn't price them high enough. Or could it be that the iPhone 7 was the same goofy design as the iPhone 6/6S and the new MacBook Pros were both late and missing something...many things actually (ports).

 

[kdarling]

You can't expect awesome products from a group of people who are on multi-million pound bonuses every single year. What is the cost of failure? Unless you have an obsessive like Jobs, who lived to make great products, all you have is a recipe for complacency.

I think they might also need a single yes-no decision person like Jobs was.

Just look at the Apple Watch with its plethora of input methods. It practically screams "designed by committee".

 

[citysnaps]

I've grown weary of this smug, pontificating buffoon. I hope this salary is the last he'll get, and Apple will promptly change management.

What would you do differently as CEO? Be specific.

 

[Dan From Canada]

Apple isn't the same Apple, but still not sure if that is a bad thing or not. When you become the biggest player, you have more problems trying to please everyone. Not sure how Steve would've made things different.

Apple is becoming the new IBM/Microsoft.

They both used to be leading edge companies challenging the status quo.

Give them a few years and we'll be reminiscing about how great Apple used to be and now company XXX is the best.

 

[ethanwa79]

I've grown weary of this smug, pontificating buffoon. I hope this salary is the last he'll get, and Apple will promptly change management.

Tell us how you really feel.
[doublepost=1483718898][/doublepost]2017 is going to be Tim Cook's make or break year.

 

[MacBH928]

I really feel like Tim is trying his best and to keep Steve's legacy on in the company...
Unfortunately he is the wrong guy to lead Apple...

I imagine it will be very hard for board members to confront Cook and fire him, especially since he played a big part in turning the company from bankruptcy to the richest in the world, and especially that he is still making record sales in iTunes and else where.

Unfortunately, whatever Apple got going for them, is really just the vision of Jobs which they still milk customers for.

To me, Scott Forstall is probably the closest guy to Jobs or Phil Schiller. I know some people hate Phil, but he was always Jobs right hand on the stage and the second face of Apple after Steve.

Of course, we can always get Wozniak back on board

 

[doelcm82]

Apple is becoming the new IBM/Microsoft.

They both used to be leading edge companies challenging the status quo.

Give them a few years and we'll be reminiscing about how great Apple used to be and now company XXX is the best.

Good to know we still have a few years before that happens.

"Tim Cook! You used to be thick."

"I am thick! It's the iPad that got thin."

 

[now i see it]

CEO who is sending the company into the toilet cashing in 147 million after 5 years.

 

[Appleaker]

Good.

 

[avanpelt]

Angela's pay blows my mind

Yep, I wholeheartedly agree. Especially since, as someone who has been visiting Apple Stores since 2007/2008, the customer service at the Apple Store has really gone downhill -- particularly in the past two to three years.

Based on what I've observed, retail staff is now arguing with customers over things like hardware replacements that, in the past, would've been replaced on the spot and the customer would've been in and out in less than 30 minutes.

The last time I was at an Apple Store (about four months ago), I had an appointment, had checked in, was sitting at the designated table where they told me to sit, and I was still completely overlooked. I sat there for close to an hour looking around occasionally and seeing people that, in many cases, did not look happy to be there.

After the unusually long wait, I was finally able to pull one of the retail staff aside and they said that I had been taken off the list of people who were waiting for assistance. What? She pulled me up and the person who checked me in had notated what I was wearing in the system so that the staff would be able to recognize me -- so that was done correctly. I was just completely overlooked.

And the person in charge of retail got a nearly 23M salary last year. Lovely.

 

[thekumar]

He might not be the best CEO for Apple and he's definitelynot Steve, but his strong stance on protecting our privacy is what I like about him.

It's not as strong of a principled philosophical stance from Tim as one would like to think. It's what the market demands, and any lack of trust from the customers would lead to decreased sales and revenue. But, I agree with it. So, it's a good one regardless of motivations.

For instance, look at Apple's principles when it comes to China, where they just pulled all versions of the NYTimes from their app store. Money rules in the end :/ (It's nothing personal, just business.)

 

[jujufreeze]

Only 8.7 million? Jesus, baptism by fire. Apple's Board of Directors showed him!

 

[Carnegie]

Right but his salary and other equity information has never been disclosed in a proxy filing. He's the only executive officer who hasn't had his data disclosed.

I understand. But in your earlier post you referred to Mr. Federighi's stock grants having never been disclosed in SEC filings and I wanted to correct that as they are routinely disclosed.

As for why other aspects of his compensation aren't disclosed as they are with other executives, it's because he's not (in accordance with SEC rules) one of the named executive officers. Those are the CEO, the CFO, and the three highest compensated executive officers other than the CEO and CFO. So we can assume from the filings that Mr. Federighi's total compensation for this year (and previous years in which he was considered an executive officer but not a named executive officer) was less than that of the named executive officers (other than the CEO or CFO). This year, e.g., it was less than the $22,807,544 reported for Mr. Cue, Mr. Riccio and Mr. Sewell.

Apple listed 6 named executive officers, btw, because those three had the same compensation. So in a sense they were including the top 3 and ties (along with the CEO and CFO).

 

[179202]

Oh god. Only 8.7 million instead of 10 million? Times must be hard for Tim. maybe we should set up an indiegogo page to help him and Apple out! They're doomed!

 

[jujufreeze]

Oh god. Only 8.7 million instead of 10 million? Times must be hard for Tim. maybe we should set up an indiegogo page to help him and Apple out! They're doomed!

A kickstarter is definitely in order.

 

[JetLaw]

Jobs or cook? Seems like both fit that definition or neither.

Jobs may have been smug, but he sure as hell was not a buffoon.

 

[Dave245]

How did I know that this thread would turn into a moaning about Tim Cook. The amount of times he is compared to Steve Jobs over the years is ridiculous, he's not Steve Jobs for a start and secondly Steve has been gone for 5 years, a lot of things change in that time. Apple has gotten bigger for a start.

 

[iMcLovin]

The Apple that is today, feels burnt out and out of ideas. They don't even innovate on the phone anymore. Actually the last iphone was provocatively un-inventive...You would think with so little innovation and actual updates across all other products, at least they could put some effort into the phone. Oh well, keep this up, and 2017 might be Tim Cooks final salary from apple.
I would actually laugh if 2017 wont give us any proper mac updates and an iphone looking exactly like iphone 7, with a slightly better camera and processor. Then you know something really is going wrong in Cupertino.

 

[ChrisCW11]

He might not be the best CEO for Apple and he's definitelynot Steve, but his strong stance on protecting our privacy is what I like about him.

Until China asks to ban certain apps that promote freedom and human rights and then Tim can't bend over fast enough for fear of losing sales overseas. Yeah, real hero.

 

[manhattanboy]

He might not be the best CEO for Apple and he's definitely not Steve, but his strong stance on protecting our privacy is what I like about him.

Totally agree; privacy is going to be this decades major fight.
What is absurd is the pay the other executives are getting. I am sorry but when your retail employees are making peanuts and your top executives are getting a million dollars a MONTH, something is really messed up in this country. Human decency apparently died decades ago.