World, As Seen from the most beautiful islands: Ireland and Cyprus

Tim Cook agrees to bonus and salary reduction, now he earns just 6 grands every hour


Tim Cook has asked Apple to cut its pay by 40 percent this year, according to Apple. The request is a response to criticism from investors. They believe that the salary of the top executive is too little dependent on the performance of the company.

Despite the reduction, Cook is still richly rewarded. If he meets the necessary targets, he could still face 49 million dollars (45.2 million euros).

The remuneration is mainly paid in the form of share packages. As a shareholder, Cook receives a profit share that can add up quite a bit. Apple is a very profitable company. Last year the net profit came to almost 100 billion dollars.

Apple has recently been criticized by several major investors over the huge compensation for Cook. According to the financial consulting firm ISS, half of the top executive’s salary does not depend on performance goals. Cook would get that bonus anyway.

Written by: Patrick O'Brien

Patrick O'Brien is a student who is taking only the first steps in journalism. The main interest is events from the world of macroeconomics and finance.

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World, As Seen from the most beautiful islands: Ireland and Cyprus

From Trinity st. to Limassol, Cyprus

Ireland and Cyprus have one thing in common. The most beautiful islands are divided. Even proportions are strikingly similar. Both nations strive for unity and a good glass of the news. More about us under the link.

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