Imagine the despair of seeing your annual salary cut by 40%. The minimum wage expectation in 2023 is R$1,302 and such a cut will make it harder to get through the month. However, Tim Cook has no such concerns. CEO apple his salary this year will be 40% less than the previous year but he will still continue to earn millions.
In its annual filing with the United States Securities and Exchange Commission (SEC), the Cupertino-based company said: The fee was reduced from US$84 million (approx. R$427 million) to US$49 million (approx. R$250 million)..
The change was approved by Tim Cook himself. The pay cut was the CEO’s response to shareholders who criticized the size of the executive salary. Shareholders can vote for executive compensation and in 2022 only 64% approved the amount.
Currently, the CEO’s basic salary is $3 million or R$15 million. That and the $6 million (R$30 million) annual stimulus remained intact. The remainder of Tim Cook’s salary will depend on Apple’s performance.
In 2022, the actual salary of the manager reached almost US$100 million, exceeding R$500 million. according to the magazine forbesTim Cook is valued at US$1.7 billion (R$8.6 billion).
In addition to the CEO salary, Apple’s annual figures will be released to the company’s shareholders on March 10.
Source: Tec Mundo
