Apple CEO Tim Cook is facing a shareholder uprising over ‘serious concerns’ over his £73m pay package.
Tim Cook pictured with Jennifer Aniston (left) and Reese Witherspoon, stars of the Apple TV+ drama series The Morning Show.
Apple CEO Tim Cook is facing a shareholder uprising over his £73m salary. The CEO, one of Silicon Valley’s leading equality campaigners, has been criticized for the hefty sum he was awarded last year.
It was Cook’s first award since 2011 and his overall package included £60m in shares, a £9m cash bonus, £2m in wages, and personal security and the use of a private jet.
The 61-year-old took over as Apple CEO in August 2011 from founder Steve Jobs, whom he considered a mentor.
The chief shareholder adviser has told investors to vote against his salary and bonus package, meaning he will be forced to defend huge sums. Institutional Shareholder Services has 3,400 clients, including some of the world’s largest institutional investors. According to the Financial Times, a letter to clients said that Cook’s salary was a “serious concern”.