Apple is such a valuable technology that, today, its market capitalization is “dizzying.” the american giant managed to exceed two trillion dollarsthanks to the wise direction of Tim Cook, a CEO who has managed to live up to the baton he picked up from Steve Jobs, and who has undoubtedly been key in all the successes that the apple company has achieved in recent years .
Tim Cook can boast of having done very well at the helm of Apple, and of having led the company to a privileged position, an achievement that just over a decade ago would have been impossible to believe. The fact is that, despite the good work that the CEO of Apple has done and the good results that the company obtained in 2023, the executive He was in favor of a drop in his salary.
It is true that this process does not depend exclusively on Tim Cook, a vote was held among the shareholders that concluded with a decision in favor of lowering his salary, but this is already was backed by the Apple CEO’s own recommendationso it is clear that he ended up having a significant influence on the final result of the vote and on his own salary drop.
With that salary cut, Tim Cook will get paid 49 million dollars a year, a figure that represents a significant drop compared to 84 million dollars in 2022. However, it must be borne in mind that in the end these figures are not immutable, in fact in 2022 the CEO of Apple ended up earning 99.4 million dollars thanks to the role of bonuses and other compensation.
That said, it is likely that Tim Cook will end 2023 with revenue of more than $49 million, as long as the apple company’s results continue to be good, something that at first we can almost take for granted. The rest of the high-ranking executives of Apple will not have to face any changeswhich means that they will not have a reduction in their salary or the variable incentive of shares in 2023.
The salaries of senior executives have experienced significant growth in recent years, and basically these types of cuts are still adjustments that attempt to “reduce” inequalities between top managers and lower-ranking employees.
