March 25, 2023

Tim Cook to take 50% pay cut as Apple stock underperforms

Apple CEO Tim Cook (Tim Cook) has asked to adjust his salary due to the company’s shareholders’ disappointment with Apple’s stock price in the past year. It is expected that he will cut his salary by 50% in 2023. Cook served as Apple CEO after the death of Jobs. His salary in 2021 and 2022 is $98.8 million and $99.4 million, respectively. According to a regulatory document submitted by Apple on Thursday, his target salary in 2023 is adjusted to $49 million. Ten thousand U.S. dollars. Cook’s salary cut is mainly share dividends. His dividends will be reduced from $75 million last year to $40 million this year. The base salary of $3 million and the bonus of $6 million remain unchanged. Apple’s stock price has fallen 23% in the past 12 months, and some company shareholders have expressed concern.

Ewen Eagle

I am the founder of Urbantechstory, a Technology based blog. where you find all kinds of trending technology, gaming news, and much more.

View all posts by Ewen Eagle →

Leave a Reply

Your email address will not be published.