Wednesday, January 2, 2013

Great example how #Apple CEO Tim Cook takes 99% pay cut for 2012


Great example how  CEO Tim Cook takes 99% pay cut for 2012 via  

5:01 PM - 31 Dec 12 · Details

Tim Cook, Apple CEO, takes 99 percent pay cut for 2012

Published: December 27, 2012 8:03 AM
By BLOOMBERG NEWS
Apple CEO Tim Cook speaks during Apple's much-anticipated
Photo credit: Getty Images | Apple CEO Tim Cook speaks during Apple's much-anticipated special event to introduce iPad Mini at the California Theatre in San Jose, Calif. (Oct. 23, 2012)
Apple Inc. chief executive Tim Cook will receive compensation for 2012 valued at $4.17 million, down 99 percent from a year earlier because of a lack of stock awards he received for 2011.
The total includes $1.36 million salary and $2.8 million in incentive plan compensation, Cupertino, California-based Apple said today in a regulatory filing. His 2011 compensation of $378 million, one of the biggest pay packages on record, was boosted by $376.2 million in stock awards that he’ll get over a decade.
Shares of Apple, maker of the iPhone and iPad, have dropped 27 percent from a September record amid concerns that the company needs new breakthrough products to fend off rivals Google Inc. andSamsung Electronics Co. Apple co-founder Steve Jobs passed the reins to Cook before his death in October 2011.
Chief Financial Officer Peter Oppenheimer will receive 2012 compensation valued at $68.6 million, up from $1.42 million a year earlier. His 2012 stock awards are valued at $66.2 million.
Apple fell 1.4 percent to $513 at the close in New York Wednesday. Even with the decline since September, the stock is up 27 percent for this year.
Posted by Robby Ball at 4:20 PM