![]() One thing propelling Apple's market cap is the company's new focus on its services business. In September, Apple's board granted Cook shares and performance-based awards that could give him more than 1 million Apple shares through 2026, his first stock grant since he took over.Īpple is the most valuable publicly traded company, worth more than $2.4 trillion, edging out other giants such as Microsoft and Amazon. Ultimately, Apple's board is happy with Cook and his performance. ![]() Since 2011, the company has released several new products, including the Apple Watch and AirPods.Ĭook's Apple is significantly bigger than it was when he took over, and it also faces new challenges, from navigating politics around the world to the perennial question about what its next big product is. Under Cook, Apple shored up the iPhone business and bolstered it with a constellation of new products that attract new customers and entrench current customers in Apple's world. Personal Loans for 670 Credit Score or Lowerīut Cook says that Jobs told him to be his own leader, and never to ask "what would Steve do?" He took that advice, building a rigorous operational juggernaut and turning Apple into the most valuable publicly traded company in the world. Personal Loans for 580 Credit Score or Lower CNN Sans ™ & © 2016 Cable News Network.Best Debt Consolidation Loans for Bad Credit Market holidays and trading hours provided by Copp Clark Limited. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account In January last year, the tech giant became the first publicly traded company to notch a $3 trillion market capitalization, yet has has shed nearly $1 billion of that value since. Supply chain bottlenecks and fears that a global economic slowdown would crimp demand also dragged down its stock. The tech boss, who has headed up Apple since 2011, is estimated to have a personal wealth of $1.7 billion, according to Forbes.Īpple’s share price, like other tech companies, plunged last year as coronavirus lockdowns shuttered some of its factories in China. ![]() The board said it believes Cook’s new pay package is “responsive to shareholder feedback, while continuing both to align pay with performance and to recognize Mr. About $30 million, or three-quarters, of that is linked to share price performance.Ĭook’s base salary of $3 million will stay the same, the company said, as well as a $6 million bonus. This year, the executive’s share award target has been cut to $40 million. Cook to adjust his compensation in light of the feedback received,” the company said in its annual proxy statement released Thursday. “The compensation committee balanced shareholder feedback, Apple’s exceptional performance, and a recommendation from Mr. The vote is nonbinding, but the board’s compensation committee said Cook requested the reduction. The vast majority of Cook’s 2022 compensation - about 75% - was tied up in company shares, with half of that dependent on share price performance.īut shareholders voted against Cook’s pay package after Apple’s stock fell nearly 27% last year. The world’s largest tech company said it would reduce Cook’s target pay package to $49 million, 40% lower than his target pay for 2022 and about half Cook’s $99.4 million total compensation that he was granted last year. Apple CEO Tim Cook recommended the company cut his pay this year after shareholders rebelled. ![]()
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