Apple CEO Tim Cook to take more than 40% pay cut

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The Associated Press

Apple CEO Tim Cook will take a more than 40% pay cut this year from a year earlier as the company adjusts how it calculates his compensation.

Apple Inc. said in a regulatory filing that Cook’s target total compensation is $49 million for 2023.

Last year the company conducted a shareholder vote on executive pay.

Apple said its compensation committee took into account shareholder feedback, the company’s performance and a recommendation from Cook, who was promoted to CEO in 2011, to adjust his compensation in light of the feedback received.

Read the full story on AP News right here.

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1/13/2023 1:42:55 PM (GMT -6:00)

Categories: Regional and US News