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TIM COOK HAD big shoes to fill when he took over from Steve Jobs as the boss of Apple – but he’ll be well paid to wear them.
The new chief has been given a $378million pay packet, the equivalent of €295million, making him likely to become the highest-paid CEO in the States.
Most of the money – $376million – is made up of a million restricted stock units handed to Cook by Apple when he took over from an ailing Steve Jobs last August. This isn’t quite string-free – he can’t cash in on the stocks until 2016, and another tranche in 2021, and must remain with the company until then, the Guardian reports.
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But the 51-year-old also receives a €900,000 annual salary.
News of the deal has set the media – and Silicon Valley – buzzing as to whether the pay packet is unreasonably large. Wall Street Journal blogger Ronald Barusch points out that the shares have no performance benchmarks before they are claimed – so all Cook has to do is avoid being fired, and he’s in the money.
But Reuters columnist Robert Cyran notes that Apple have a history of generosity to their leaders. In 2000, Steve Jobs was given 20million share options – and a $90million Gulfstream jet to sweeten the deal.
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@Adrian O’Donnell: yep..whatever about the delicate nature of this subject and you will get extreme views on both sides of the argument.. the Texas state was happy with the possibility of a man abusing his daughter and that little girl would be forced to have his baby…thats pretty perverted stuff.. not acceptable in a civil society..
Will these Christian busy bodies be suing the executioners on death row, or the people who transport the lethal injections to prisons in order to get their $10,000 reward? Oh sorry, they’re not ‘unborn’.
You can see where this is going. It will be appealed through the different levels right up to the US Supreme Court in Washington DC which consists of a majority of very conservative justices, thanks to Trump and McConnell. They will almost certainly ratify the ban but it will also open up the opportunity for other states to do the same. #RIP Roe v Wade
It will be interesting if this makes it all the way to the supreme Court. The fact that its a majority Conservative panel would suggest that row v wade could be overturned however as far as I’m aware the supreme Court have never voted to remove a right that was already given to the people. It would be a major moment if this happened for the first time.
ESRI warns of significant impacts to trade and GDP in the case of US protectionist policies
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Trump signs order to 'eliminate' US Department of Education
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