Apple paid Tim Cook and other top executives less in 2016 following missed revenue and profit goals for the year.
In a regulatory filing spotted by the WSJ, Apple said annual sales were $215.6 billion, 3.7% below its target of $223.6 billion. Operating income was $60 billion, 0.5% short of its $60.3 billion target.
Due to the missed targets, executives didn't get their full possible cash incentive. Last year Cook earned $10.3 million in compensation but this year he received $8.75 million.
Cook's pay fell 15% compared to an average drop of 9.6% for other executives.
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Comments (5)
Comments are closed for this article.
0
matrixmaniac - January 7, 2017 at 9:44am
Tragically I think he actually loves to make great products, but he simply doesn't know how to do that. Products that can't be operated without dongles (many dongles) don't feel great. Products without any upgrade-ability don't feel great. Products that limit your ways of working don't feel great. Software updates that you can't prevent or undo even if they are about to remove features you like or need don't feel great. Getting an ear pod with your new iPhone that doesn't fit to any other audio source on the planet doesn't feel great either. It's too much and too un-innovative.
0
ricecook - January 7, 2017 at 1:12am
no doubt !Tim cook will receive a less more by April,after Samsung galaxy S8 on the market!! watch out apple..!!!
0
SayingWhatEveryonesThinking - January 6, 2017 at 4:55pm
They deserve it for removing the headphone jack from the iPhone and all the needed ports on the new MacBook Pro.
0
Dude - January 6, 2017 at 4:41pm
If u were getting paid 12 million a year and you got 4 million cut from ur salary the next year......u'd be irritated as well don't lie
0
None45 - January 7, 2017 at 6:41pm
You know what's more irritating? The use u and ur and U'd instead of the proper you, your, you're and you'd. But you're right, that pay cut would irritate me.
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