Mobile Tech Today

CIO Today Network Sites:   Top Tech News  |   CIO Today   |   Mobile Tech Today   |   Data Storage Today
News & Product Reviews for Mobile Tech Users
Vblock™ Systems:
Advanced converged infrastructure
increases productivity & lowers costs.

www.vce.com
Thursday, April 24th 
Real-time info services with Neustar
Trending Topics:   Security Heartbleed Big Data Cloud Computing Windows XP Data Centers OS X Mavericks
Home
Laptops & Tablets
Mobile Phones
Mobile Gadgets
Mobile Apps
BYOD & MDM
iPad
Mobile Industry News
Wireless Connectivity
Wireless Security
GPS & Maps
MTT Press Releases
 
Free Newsletters
Top CIO News
 
Mobile Tech Today
 

Mobile Industry News

More Cash, But No Stock: Apple CEO Tim Cook's Pay Drops 99%

More Cash, But No Stock: Apple CEO Tim Cook
December 27, 2012 11:08AM

Bookmark and Share
Tim Cook has been Apple's chief executive since August 2011, succeeding Steve Jobs. Cook had been the COO since October 2005. Cook joined Apple in March 1998. Apple shares have dipped 27 percent from their September 2012 record. Apple is under heavy pressure from competitors like Google and Samsung.

Your Next Generation Data Center Is Here! Vblock™ Systems: the world's most advanced converged infrastructure are built on the Cisco Unified Computing System with Intel® Xeon® processors. Vblock™ Systems deliver extraordinary time to market, ROI and TCO, and flexibility to meet your continually changing demands with 5X faster deployment, 96% less downtime, and 1/2 the cost. Click here to learn more.

What if your boss cut your compensation by 99 percent? Apple CEO Tim Cook's pay took a 99 percent dive this year. Last year, he was the highest-paid CEO in the tech industry. What a difference a year makes.

Cook's 2012 compensation totaled $4.17 million, and he gets no stock awards. The compensation package includes $1.36 million salary and a $2.8 million incentive plan, according to an SEC filing. Cook's base salary in 2011 was $900,000, so technically he did get a raise.

So what's behind the numbers? Cook's total compensation was $378 million in 2011, inflated by $376.2 million worth of stock awards Cook received, to be disbursed over the next 10 years.

More Cash, But No Stock

"In deciding to increase the cash compensation for Mr. Cook, the Compensation Committee considered the company's financial results, Mr. Cook's responsibilities as CEO, and his total cash compensation opportunities as compared to the total cash compensation opportunities of the other named executive officers as well as the total cash compensation opportunities of CEOs at peer companies," Apple said in its proxy statement.

Apple admitted that "Cook's target cash compensation remains significantly below the median for CEOs of peer companies" despite the fact that the company "exceeded the maximum performance goals for both net sales and operating income set by the Compensation Committee for 2012."

Again, Cook's 2012 compensation totaled $4.17 million. That compares to $77.6 million for Oracle CEO Larry Ellison and $1.38 million for Microsoft CEO Steve Ballmer in 2011. Meanwhile, Amazon CEO Jeff Bezos posted a 2011 salary of $81,840, with no stock awards. Bezos is the lowest-paid CEO among major tech companies.

Maps Miscue

Cook has been Apple's chief executive since August 2011, succeeding Steve Jobs. Cook had been the COO since October 2005. Cook joined Apple in March 1998. Apple shares have dipped 27 percent from their September 2012 record. Apple is under heavy pressure from competitors like Google and Samsung.

Apple suffered a few missteps over the year, most notably the rollout of iOS6 with a seriously flawed Apple Maps app to replace the native Google Maps app that had been part of iOS since its inception.

Cook took the virtually unprecedented step of publicly apologizing for the Maps app's flaws, and in its wake booted two key Apple executives, first mobile operating system chief Scott Forstall, who had been considered by some to be Jobs' protege, then Maps chief Richard Williamson.

Tell Us What You Think
Comment:

Name:



 Mobile Industry News
1. OnePlus One Boasts Android Weapon
2. Samsung: $2.2B Too Much for Apple
3. Microsoft-Nokia Deal Closes this Week
4. Mobile Ad Platform From Facebook?
5. Google, Rockstar Suit Stays in Calif.




 Most Popular Articles
1. Google Glass Finds a Home in Medical Education, Practice
2. HP Rolls Out New Software-Defined Network Products
3. Smartphone Kill Switch Could Save Users $2.6B a Year
4. Avaya Aims To End Network Waiting Game
5. Google Video Shows Off Modular Project Ara Phone

Have an informed opinion on this story?
Send a Letter to the Editor.
We want to know what you think.
Send us your Feedback.

 Related Topics  Latest News & Special Reports

  OnePlus One Boasts Android Weapon
  Samsung Gear Fit Geared for Exercise
  Google Sharpens Contact Lens Vision
  Samsung: $2.2B Too Much for Apple
  Review: Windows Phone Advances

 Technology Marketplace
Business Intelligence
Get real-time, cloud-based information services with Neustar.
 
Cloud Computing
Next Generation Data Center Is Here! Vblock™ Systems from VCE
 
Contact Centers
HP delivers the future of the contact center with HP Qfiniti 10.
 
Data Storage
Next Generation Data Center Is Here! Vblock™ Systems from VCE
Barium Ferrite (BaFe) is the future of tape.
2.5" Enterprise-class SATA & SAS SSDs for server & storage applications
 
Enterprise Hardware
Barium Ferrite (BaFe) is the future of tape.
2.5" Enterprise-class SATA & SAS SSDs for server & storage applications
 
Hardware
Protect your network with APC Smart-UPS battery backup
 
Network Security
Protect your network with APC Smart-UPS battery backup
 

Network Security Spotlight
What Verizon's Data Breach Report Can Teach Enterprises
It’s probably not a jaw-dropper, but cyberespionage is officially on the rise. And the use of stolen or misused credentials is still the leading way the bad guys gain access to corporate information.
 
Top Cyberthreats Exposed by Verizon Report
Beyond Heartbleed, there are cyberthreats vying to take down enterprise networks, corrupt smartphones, and wreak havoc on businesses. Verizon is exposing these threats in a new report.
 
Where Do Web Sites Stand, Post-Heartbleed?
A security firm says the vast majority of Web sites have patched themselves to protect against the Heartbleed bug, but now there are questions raised on the reliability of open-source programs.
 
Navigation
Mobile Tech Today
Home/Top News | Laptops & Tablets | Mobile Phones | Mobile Gadgets | Mobile Apps | BYOD & MDM | iPad
Mobile Industry News | Wireless Connectivity | Wireless Security | GPS & Maps | MTT Press Releases
Also visit these Enterprise Technology Sites
Top Tech News | CIO Today | Mobile Tech Today | Data Storage Today

Services:
FreeNewsFeed | Free Newsletters | XML/RSS Feed

About CIO Today Network | How To Contact Us | Article Reprints | Services for PR Pros (In partnership with NewsFactor) | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 Mobile Tech Today. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.