Apple CEO Tim Cook took home $9.2 million last year, $1.7 million of it as salary and the remaining $6.7 million in non-equity compensation such as stock options. This is a more than double increase for Cook, who started off at $1.4 million before last February. But it is still a lot less compared to the salaries of most Fortune 500 CEOs, and also considering Apple’s staggering growth in the last few years.
Apple’s New York listed shares had hit a record high last year, while almost 40 million iPhones were sold. The increase to Mr Cook’s salary was the first since November 2011. He became the firm’s chief executive in August 2011. In the report, Apple said the increases were given after reviewing “peer company” market data provided by its independent compensation consultant. The executive team’s bonuses were also increased to a maximum of 400% of the member’s salary.
In November, Apple was worth more than $700bn after its stock hit an all-time high of $119.75.
Tim Cook’s salary as the CEO is also a lot smaller than Apple’s own head of retail, Angela Ahrendts’, who pocketed a cool $70 million in 2014. Apple’s explanation for the disparity is that Ahrendts was already making about $37 million at her former job as the CEO of Burberry. That makes sense.
