Apple CEO takes huge pay cut

2012-12-28 09:14

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New York – Apple chief executive Tim Cook’s total compensation for 2012 will plummet to $4.2 million (R36 million) from $378 million last year, according to a company document.

In a regulatory filing, the US technology titan said the sum included a $1.4 million salary and a $2.8 million bonus.

The total is far below what other Apple executives will pocket.

Chief financial officer Peter Oppenheimer will receive $68.6 million; Bob Mansfield, senior vice-president of technologies, will get $85.5 million; and Bruce Sewell, senior vice-president and general counsel, will get $69 million.

Cook’s compensation last year included a $376 million bonus in the form of stocks linked to his nomination to the company’s top post before the death of Steve Jobs in October 2011.

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