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In 2024, the payment of Tim Cook was $74.6 million (Rs 643 crore) in contrast to $63.2 million (Rs 544 Crore) the year prior to
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Apple CHIEF EXECUTIVE OFFICER Tim Cook’s payment was $74.6 million (Rs 643 crore) in 2024 after getting an 18% walking. (Photo Credits: ConnectedIn)
A month prior to its yearly conference,Apple Inc revealed that its Chief Executive Officer Tim Cook’s payment saw an 18% boost in 2024.
The business included that it does not sustain an investor step which the variety program of the business ought to finish.
The income of Tim Cook boosted to $74.6 million (Rs 643 crore) in 2024 from $63.2 million (Rs 544 crore) in 2023, claimed Apple in its yearly proxy declaring on Friday.
The pay framework of Time Cook has a $3 million base pay, $58.1 million in supply honors, and around $13.5 million as extra payment. The boost is an outcome of an increase in supply honor worth.
There has actually been a considerable boost in their income of Cook from in 2014, nevertheless, it is much from his complete payment in 2022 which had actually come to be nearly $100 million as a result of supply costs.
In 2023, Cook chose to take a pay cut after encountering a pushback from stakeholders and staff members.
The business’s board of supervisors claimed it “made no adjustments to the quantity or framework of Mr Cook’s 2025 complete target payment.”
Apple Gears Up For Annual Meeting On Feb 25
The annual meeting will be held on February 25 in which investors will vote on executive compensation and four outside proposals, which have been opposed by the company.
The company has been considering abolishing the programme in the wake of Apple’s diversity, equity and inclusion, or DEI, efforts fearing that the former can discriminate against employees and lead to lawsuits.
Apple has called the proposal an inappropriate attempt aimed at restricting the business operations of the company. They have said it already has a lot of regulatory and legal risks.
In 2024, Apple’s other executives like the retail chief, chief operating officer, former chief financial officer, and general counsel, earned more than $27 million, reflecting a slight increase in pay from the last year.
The former CFO of Apple Luca Maestri was replaced by Kevan Parekh recently.
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