Post by account_disabled on Feb 28, 2024 1:47:58 GMT -5
Although the pandemic has disrupted the economy around the world and has affected certain sectors, there are others that, on the contrary, have not only been stable but have consolidated their growth, one of them is Apple. In this context, a conflict has arisen over the salary of Tim Cook, executive director of the brand.
Apple shareholders have set their sights on Cook's salary and Changsha Mobile Number List bonuses. This controversy develops in a context in which technology is present on a daily basis in different activities, even with the confinement derived from the pandemic; The use of computers and the Internet became essential and that has undoubtedly brought profits to these companies. So what is the conflict? Below, we tell you the details.
Tim Cook computer salary
Stock down or up?
Although some sectors of the economy have grown considerably in recent years, the majority have struggled to survive the economic onslaught of the pandemic derived from COVID-19.
This 2022 seems to be the turn of social networks and streaming, as confirmed by the collapse of Netflix shares , which in January of this year had a fall of more than 20%, together with other similar companies.
Added to this situation was the stock collapse of Meta —which, despite the Metaverse—failed to consolidate a novel strategy. This drop in shares was 26.44% equivalent to more than 237,117 million dollars and meant that Mark Zuckerberg left the top 10 of the richest people in the world.
Tim Cook apple salary
These financial losses have so far not affected Apple. Inc., another technology giant that is now in controversy over Tim Cook's millionaire salary.
Do shareholders deny Tim Cook's salary?
According to The Guardian , advisory firm Institutional Shareholder Services (ISS) has asked Apple shareholders to vote against Tim Cook's nearly $99 million pay package. This through a letter in which they stated:
Significant concerns regarding the design and magnitude of the equity awards.
And they added that half of the award “lacks performance criteria.” This recommendation comes after Tim Cook's salary in 2021 was $3 million. In addition, he received 82.3 million in shares, 12 million for achieving his goals and 1.4 million for air travel, retirement plan contributions, insurance premiums and others.
His total compensation package was worth $98.7 million in 2021, compared to $14.8 million the year before. This means that Tim Cook's salary is 1,447 times higher than that of the average Apple employee.
Tim Cook salary money
Although Cook's salary and bonuses seem extremely high, the company's results could support them, since the return for shareholders exceeds 1,000% , in addition to an increase of almost 30% in Apple's share price in the Last 12 months , achieved profits of more than 34 million dollars.
ISS's negative recommendation for Apple comes after a record number of S&P 500 companies last year failed to achieve 50% support in votes on CEO compensation at annual meetings.
If the vote against Cook's payment package is finalized, it would be advisory only and Apple's board of directors would not be obliged to act accordingly. This situation highlights an important point: the high salaries and benefits that millionaires have.
Apple shareholders have set their sights on Cook's salary and Changsha Mobile Number List bonuses. This controversy develops in a context in which technology is present on a daily basis in different activities, even with the confinement derived from the pandemic; The use of computers and the Internet became essential and that has undoubtedly brought profits to these companies. So what is the conflict? Below, we tell you the details.
Tim Cook computer salary
Stock down or up?
Although some sectors of the economy have grown considerably in recent years, the majority have struggled to survive the economic onslaught of the pandemic derived from COVID-19.
This 2022 seems to be the turn of social networks and streaming, as confirmed by the collapse of Netflix shares , which in January of this year had a fall of more than 20%, together with other similar companies.
Added to this situation was the stock collapse of Meta —which, despite the Metaverse—failed to consolidate a novel strategy. This drop in shares was 26.44% equivalent to more than 237,117 million dollars and meant that Mark Zuckerberg left the top 10 of the richest people in the world.
Tim Cook apple salary
These financial losses have so far not affected Apple. Inc., another technology giant that is now in controversy over Tim Cook's millionaire salary.
Do shareholders deny Tim Cook's salary?
According to The Guardian , advisory firm Institutional Shareholder Services (ISS) has asked Apple shareholders to vote against Tim Cook's nearly $99 million pay package. This through a letter in which they stated:
Significant concerns regarding the design and magnitude of the equity awards.
And they added that half of the award “lacks performance criteria.” This recommendation comes after Tim Cook's salary in 2021 was $3 million. In addition, he received 82.3 million in shares, 12 million for achieving his goals and 1.4 million for air travel, retirement plan contributions, insurance premiums and others.
His total compensation package was worth $98.7 million in 2021, compared to $14.8 million the year before. This means that Tim Cook's salary is 1,447 times higher than that of the average Apple employee.
Tim Cook salary money
Although Cook's salary and bonuses seem extremely high, the company's results could support them, since the return for shareholders exceeds 1,000% , in addition to an increase of almost 30% in Apple's share price in the Last 12 months , achieved profits of more than 34 million dollars.
ISS's negative recommendation for Apple comes after a record number of S&P 500 companies last year failed to achieve 50% support in votes on CEO compensation at annual meetings.
If the vote against Cook's payment package is finalized, it would be advisory only and Apple's board of directors would not be obliged to act accordingly. This situation highlights an important point: the high salaries and benefits that millionaires have.