Apple’s Tim Cook to take 50% pay hit after shareholder feedback

[Google News Bot]

‘Compensation’ for CEO down from $99.4m in 2022 to an expected $49m for current yearThe Apple chief executive, Tim Cook, is expected to have his pay cut by almost 50% this year to about $49m (£40m) after the billionaire boss asked the company to “adjust his compensation” in the light of feedback from shareholders disappointed at the fall in the company’s share price.Cook, 62, who became CEO after the co-founder Steve Jobs stepped down before his death in 2011, was paid $99.4m in 2022 and $98.8m in 2021. But the company said in a regulatory filing late on Thursday night that it had s ...

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