Cook’s pay reduction comes after the Say-on-Pay vote held at Apple’s annual advisory meeting for shareholders in 2022. Just 64% of votes relating to compensation for executives.
In a nutshell: We’re used to hearing about megacompany CEOs receiving obscene pay rises in times of economic hardship and job cuts, but Tim Cook is bucking the trend. The Apple boss will receive around 40% less in 2023 compared to what he was paid last year, and the decision partly comes from Cook’s own recommendation. That doesn’t mean he’ll be searching for discount coupons in newspapers: Cook is still likely to earn more than $49 million this year.
Cook’s pay reduction comes after the Say-on-Pay vote held at Apple’s annual advisory meeting for shareholders in 2022. Just 64% of votes relating to compensation for executives were in favor of execs retaining their 2021 pay packages.
