New york: Tech giant Apple yesterday revealed the salary of its top brass in a proxy filing. The company’s chief executive Tim Cook made $10.3 million pere year (Rs 69 crore) last year as Apple’s CEO, but other top executives each made $25 million each in 2015.
Tim Cook Pic/AFP
Apple said that it exceeded maximum performance goals for net sales and operating income, resulting in the maximum potential payout for its employees.
Cook’s compensation rose 11.5% in 2015, a year when its sales grew 28% and profits by 35%, the company said on Wednesday. Chief Financial Officer Luca Maestri’s annual compensation rose about 81% to $25.3 million in 2015.
In fact, Cook was the lowest-paid of the company’s top executives. Angela Ahrendts, the senior vice president for retail and online stores, was the highest paid, with a total pay package of $25.8 million.
The big difference between Tim Cook and the other execs is that Cook does not receive any stock awards.
Steve Jobs used to famously only pay himself $1 in salary since 1998, but owned 5.5 million shares of Apple stocks