Tech Gist

Apple Cuts Tim Cook's Pay by $1.5 Million for Missing 2016's Sales Targets.

$1.5 million is not a joking stuff, but that is what Tim Cook gets for missing performance targets.

Ndo.


The company said its annual sales were down by nearly 4%, or $215.6 billion, from its target of $223.6 billion, and its operating income was down 0.5 percent from its target at $60 billion. As a result, Cook will lose out on about $1.5 million, dropping his annual salary from $10.28 million in 2015 to $8.75 million in 2016. Other top executives were also affected.
For Tim Cook, the loss of money might not mean so much because he has netted $100 million in stock bonuses for serving five years as the head of the company. He also liquidated a large chunk of his shares in Apple stock which netted him approximately $65 million.

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7 comments on “Apple Cuts Tim Cook's Pay by $1.5 Million for Missing 2016's Sales Targets.

  1. KingAbsolute says:

    How does the decline be the fault of these executives and heads. Anyway, I might not judge from here, maybe they have a tangible reason why they deducted the amount from their pay.
    The remaining balance is even still huge tho.

  2. ỌBÁDÁRÀ says:

    … WELL,IF THE COMPANY IS DOING WELL, THEIR PAY IS ROBUST AND IF THE COMPANY ISN’T DOING WELL, THEIR PAY SHOULD BE LEAN TOO. IF THE DECLINE IS NOT THE FAULT OF THE EXECUTIVES, THEN HOW DO WE BLAME BUHARI FOR RECESSION?
    MEANWHILE, SAMSUNG IS EXPECTED TO POST BETTER Q4 PROFITS…

  3. Kaybang says:

    The newest version/member/addition to the Steve Ballmer clan of CEOs. #Hacks!
    Get ready to deduct more from your pay when the chickens come home to roast once again this year Mr. “Cook”(see what I did there? Chickens, roast, cook)

  4. Rotimi Popoola says:

    Hmmmn the man will buckle up sef and make sure he sees d company rising again

    1. Kaybang says:

      No he won’t. He’s a hack!

  5. Henry says:

    Money still plenty… $8million?.. Make I go eat Jaree! Apple inc gadget are expensive…
    Also read meet NokIa D1C android device… (Release date, spec, features and price

  6. pWilliams says:

    hmmmm….I think it’s some how good… instead of cutting the workers salary

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