Apple has cut Tim Cook’s 2016 pay by a little over $1.5M after the company failed to achieve both revenue and profit goals. The news that Cook’s compensation was cut from $10.28M in 2015 to $8.75M in 2016 was spotted in a regulatory filing by the WSJ.
Apple said its annual sales of $215.6 billion were 3.7% below its target of $223.6 billion, and its operating income of $60 billion was 0.5% short of the $60.3 billion target. As a result, company executives got 89.5% of their targeted annual cash incentive.
Cook wasn’t the only one to lose out …
more…Filed under: Apple
