Apple CEO, Tim Cook takes 15% pay cut for missing sales target | Welcome to Linda Ikeji's Blog

LI_Leaderboard_4

LI_Leaderboard_1

LI_Leaderboard_2

LI_Leaderboard_3

Saturday 7 January 2017

Apple CEO, Tim Cook takes 15% pay cut for missing sales target

iPhone maker, Apple is cutting CEO, Tim Cook's pay by 15% citing the company's failure to meet its performance goals for both sales and profits. This is because iPhone sales last year caused Apple to suffer its first annual revenue decline in 15 years.

Now Apple's board is holding its CEO and other leaders accountable for the stumbles.


While Cook's salary rose to $3 million from $2 million last year, his cash bonus took a hit. Apple awarded Cook and other executives 89.5% of their target, instead of the maximum amount like in recent years.

That meant Cook's cash bonus fell to $5.4 million in 2016, down from $8 million the year before.

Cook's total compensation was $8.7 million last year, compared with $10.3 million in 2015.

Sales of iPhones have declined in each of the past three quarters, slipping to 45.5 million in the September quarter. The problem is that Apple has faced competition from Samsung and other smartphone makers and the newest iPhones haven't featured enough upgrades to lure customers.

8 comments:

Unknown said...

....... Since he cm out gay... Things keep falling apart...well he remains business mogul














............ Cristo vive..........

Unknown said...

Very good..

Unknown said...

well...
-D great anonymous now as Vivian Reginalds

Oghenetega said...

Iphone is ridiculously expensive joor...
They should slash their price down then they will hv more sales...
Still Love my SAMSUNG Thou...

Unknown said...

there re competition on phones

AGB said...

Oh boy! See the huge bonus sums the dude's earning.

Iphie Abraham said...

seen










lib addict#just passing#

Anonymous said...

Recession in nigeria cause am

Recent Posts