According to a study published in the New York Times, Apple’s current CEO Tim Cook was handed over a compensation of $378 million making the CEO of the worlds most valuable company the highest paid CEO among the big public companies.
According to the firm Equilar which was enlisted to analyse CEO pay by the New York Times the compensation includes a salary if $90000 , a bonus of $90000 and one time stock originally valued at $376.2 million which now is priced at $634 million due to the meteoric rise in Apple ‘s stock price.
The one time stock payment is extended over a period of 10 years. According to a report Tim Cook will be able to cash out half of the stock starting 24 August,2016. Tim Cook can then cash out the other half only after 24 August,2021. This was done to ensure that there is no change in the lead management of the company for at least years.
The other CEO’s in the top 10 list, include -
2) Larry Ellison – 76 Million (Oracle).
3) Ron Johnson – 53.3 Million (JC Penney). Ron Johnson was previously the VP of Retail Operations at Apple.
4) Philippe Dauman – 43.1 Million (Viacom)
5) David Cote – 35.3 Million (Honeywell International Inc)
6) Stephen Chazen – 31.7 Million (Occidental Petroleum Corp)
7) Robert Iger – 31.4 Million including his $84,000 worth Apple Stock. (The Walt Disney Company)
8) Clarence Cazalot Jr – 29.9 Million (Marathon Oil Corp)
9) Alan Mulally – 29.5 Million (Ford Motor)
10) Rupert Murdoch – 29.4 Million (News Corp)
[...] Image Credit: All Things Apple [...]
[...] year Cook had earned $378 million, making this year’s overall compensation almost 99% less than the last year. [...]