Apple Cuts Tim Cook’s Pay by $1.5 Million for Missing Iphone 7 Sales Targets.

 

Even the Iphone  5 users I know that became Iphone 6 users  within the blink of an eye, did not even flinch at the thought of the Iphone 7. So correct me if I am wrong when I say that i do not think low sales were due to Cook’s ear bud decision but generally a bad global purchasing power year. The company said its annual sales were down by nearly 4%, or $215.6 billion, from its target of $223.6 billion, and its operating income was down 0.5 percent from its target at $60 billion. As a result, Cook will lose out on about $1.5 million, dropping his annual salary from $10.28 million in 2015 to $8.75 million in 2016. Other top executives were also affected.

For Tim Cook, the loss of money might not mean so much because he has netted $100 million in stock bonuses for serving five years as the head of the company. He also liquidated a large chunk of his shares in Apple stock which netted him approximately $65 million.

 

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