Apple Cuts Tim Cook's Pay for Missing Sales Goals
Apple's sales slump is taking a bite out of Tim Cook's paycheck. The iPhone maker cut Cook's pay by 15% last year to $8.7 million, according to a filing released on Friday, CNN reports.
Apple (AAPL, Tech30) specifically cited the company's failure to meet its performance goals for both sales and profits. Shrinking iPhone sales last year caused Apple to suffer its first annual revenue decline in 15 years.
While Cook's salary rose to $3 million from $2 million last year, his cash bonus took a hit. Apple awarded Cook and other executives 89.5% of their target, instead of the maximum amount like in recent years.
That meant Cook's cash bonus fell to $5.4 million in 2016, down from $8 million the year before. All told, Cook's total compensation was $8.7 million last year, compared with $10.3 million in 2015.
Read also
-
Apple, Google and Microsoft Commit to Expanded Support for FIDO Standard to Accelerate Availability of Passwordless Sign-Ins
-
Apple to Delay Mass Production of 2020 Flagship Phones: WSJ
-
Apple Makes Mobility Data Available to Aid COVID-19 Efforts
-
President Sarkissian Meets with CEO of Apple Tim Cook in Davos
-
Apple Unveils New iPad Air And iPad Mini
-
Apple Is Working On Self-Driving Car Program
-
Trump will Stay 3 Months without Salary because of Drugs
-
Fast-Moving Chinese Rivals Gain in Parallel to the Slowing Down of Apple
-
17:08The regular session of the Anti-corruption Policy Council takes place in Jermuk
-
15:05The Prime Minister sends congratulatory messages to the supreme leader of Iran and the President of Iran
-
11:11Armenia sends earthquake aid to Turkey
-
10:43Commemoration of the Pontiff St. Sahak Partev
-
09:16Some roads are closed and difficult to pass in Armenia
-
19:55Phone conversation of the Foreign Minister of Armenia with the U.S. Assistant Secretary of State for European and Eurasian Affairs
-
18:30Prime Minister Pashinyan and President Khachaturyan meet
-
18:20Ararat Mirzoyan with Co-Chairman of the OSCE Minsk Group of France Brice Roquefeuil
-
17:01Humans could land on Mars within 10 years, Musk predicts
-
16:45France, US urge 'immediate' end to Nagorno Karabakh blockade
-
16:01Blockaded Nagorno Karabakh launches fundraiser to support quake-hit Syria
-
15:59Earthquake death toll in Turkey rises to 18,342
-
15:43Ararat Mirzoyan Held a Telephone Conversation with Sergey Lavrov
-
15:06French president rules out fighter jet supplies to Ukraine in near future
-
14:475 Day Weather Forecast in Armenia
-
14:44President Vahagn Khachaturyan wrote a note in the book of condolences opened in the Embassy of Syria in Armenia
-
14:20Azerbaijan’s provocations impede establishment of peace and stability – Armenian FM tells Russian Co-Chair of OSCE MG
-
12:57France representation to OSCE: Paris calls on Azerbaijan to restore freedom of movement through Lachin corridor
-
11:40Command of Kosovo forces highly appreciated preparation of Armenian peacekeepers
-
10:16The United States withdrew from sanctions against Syria for six months the provision of assistance after the earthquake
day
week
month
Humidity: %
Wind: km/h