Tim Cook Doing Well At The Helm Of Apple, Made 6 Times More In 2011
Ever since the late and great Steve Jobs started to be affected more and more by cancer, Tim Cook, Apple’s then COO, took over as CEO. Despite the unfortunate death of Jobs’, Cook has been able to keep Apple pushing forward as a market leader.
Because of that, Tim has been well rewarded for his efforts.
“Apple CEO Tim Cook’s total compensation package jumped six-fold last year after he took the reins of the Cupertino, Calif. company, according to documents filed with the U.S. Securities and Exchange Commission (SEC) on Monday. For 2011, Cook’s compensation totaled nearly $378 million, or more than six times the $59 million awarded the year before, Apple’s proxy statement noted.”
Quite the compensation package, the bulk of which ($372.6 Million) in stock grants for someone who’s been with the company since March of 1998. As stated in the beginning of this post, Tim Cook used to be the COO of Apple and oversaw all daily operations.
He finely tuned many processes within the organization, particularly reducing inventory levels and streamlining the supply chain. This has helped the company to further increase profits which have been at all time record highs.
Moving forward, Apple seems to be in good hands with Tim Cook at the helm and with the iPad 3, iTV, and iPhone 5 coming out in 2012, it’s sure to be another stellar and potentially record breaking year for the tech giant.
“Half of the 1 million “restricted stock units,” or RSUs, will be awarded to Cook in August 2016 if he is still with Apple, while the second half will be given to him in August 2021, again only if he is still employed by the company.”
