Apple to Cut $35 Million in Tim Cook’s Salary

In establishing the new director’s pay, Apple’s board of directors’ compensation committee considered feedback from shareholders, “Apple’s exceptional performance, and a recommendation from Mr. Cook to adjust his compensation in light of feedback received,” he shared. the company.

And it is that in the payment vote last year, only 64% of shareholders approved Cook’s compensation, a figure that is far from the 95% who accepted it for fiscal year 2020.

Separately, Apple also reduced the number of restricted stock units Cook could receive if he retires before 2026, but the company praised his performance and said it is confident in his long-term strategic decisions.

Tim Cook’s management at the helm of Apple

Since Cook took over as CEO, the company’s performance has been outstanding. Among its most relevant achievements is positioning the iPhone as one of the most popular smartphones in the world, in addition to the launch of Apple Watch and AirPods, accessories that are sales leaders in their categories.

However, recently it has faced some of its most difficult periods. At the start of the year, for example, Apple’s stock value fell below $2 trillion for the first time since June 2021.

The drop came a year after the iPhone maker became the first company to reach $3 trillion in market capitalization.

The company has also faced some challenges in the production of the iPhone 14 and 14 Pro Max, due to protests at the Foxconn plant in Zhengzhou, China, which has already been 90% stabilized, according to reports.

For now, the future of the company seems to be hopeful. Although it faces challenges similar to those faced by other technology companies, and which have led to massive layoffs, Apple will seek to make important announcements throughout the year to maintain its position.

One of the most anticipated announcements for the brand is a mixed reality system, whose price would be around $3,000, would have the ability to offer experiences in AR and VR, in addition to being announced before the World Developers Conference (WWDC). , for its acronym in English).