“For Apple CEO Tim Cook, fiscal year 2017 brought good tidings in the form of a hefty 47 percent pay increase,” Seung Lee reports for The Mercury News. “Apple’s CEO since 2011 saw his salary rise to about $12.8 million in fiscal year 2017, which ended in September, from about $8.7 million in the prior fiscal year, according to a SEC filing from Apple on Wednesday. Cook’s real wealth, however, comes from his stock options. He owns 560,000 shares awarded to him in 2011 that vested in fiscal 2017, valued at $89.2 million. Apple’s CEO also has about 2.9 million more unvested shares, worth more than $450 million, according to the SEC filing.”
Lee reports, “Senior Retail Vice President Angela Ahrendts eked out the highest paid honor by less than $100,000 due to additional compensation to help Ahrendts — the former Burberry CEO — move ‘closer to Apple’s headquarters,’ according to the SEC filing.”
Read more in the full article here.
MacDailyNews Take: Having Ahrendts, with a highly successful CEO-ship on her resume, available to step in for Cook at a moment’s notice should some unforeseen tragedy happen is invaluable.
SEE ALSO:
Apple now requires CEO Tim Cook to fly only on private jets – December 28, 2017
Apple CEO Tim Cook paid close to $102 million for fiscal 2017 – December 28, 2017
Forbes’ World’s 100 Most Powerful Women: Angela Ahrendts #13, Laurene Powell Jobs #14 – November 2, 2017
Tim Cook took home $10.3 million, Angela Ahrendts earned $25.7 million in 2015 – January 6, 2016
Apple’s Angela Ahrendts emerges as highest-paid U.S. woman with $83 million – May 5, 2015
Apple’s retail chief Angela Ahrendts paid $73.4 million in cash and stock last year; BoD member Drexler steps down – January 22, 2015
Apple’s new retail chief Ahrendts granted $68 million in restricted stock – May 6, 2014
I never realized that someone would get paid that much for doing so little.
MDN you’re to far up Apple as_. She is waste product who done so little. God help Apple if she is ever put in a position to run the company.
KK and Rob must have an inside track into the Apple board room to have such valuable insights into her contributions. Just because it’s not visible to the general public doesn’t mean it’s not there. But the words “I don’t know” rarely come from commentors on this forum.
bingo.
If the retail executive’s actions are not visible and strongly positive to the general public, then that executive needs replacing. Fanboy.
Yes agreed. it’s amazing with the web, that because we don’t have to see what the other person does that we can make snap judgements like so many people do. I’m a video editor so I guess they would call me a bum because I work behind the camera in front of a Final Cut Pro screen all day. sheesh!
oh and one more thing, i bet she would do a lot better job of running Apple than that clown who almost drilled HP in the ground and that Yahoo CEO.. and she was successful… pounded Yahoo right in the ground. Verizon saved them from the unemployment line.
So will Phil and Eddy be taking to social media demanding equal pay? Just kidding, I realize my question is rhetorical. I’m just emphasizing that this is the way capitalism works. If your skills are more marketable, you are better at negotiating, and you are coming from the outside, you tend to draw higher pay.
“available to step in for Cook at a moment’s notice”
No, they’ll have to pay her more, first.
If there is dissatisfaction with Tim Cook as CEO, having Ahrendts, a fashion/retail CEO take over the helm would definitely put more holes in the hull of the Good Ship Apple. Let’s have someone with zero sense of technology but a huge sense of entitlement to huge annual payouts. I remember when Steve Jobs took zero salary. I would like a senior executive to show the same full commitment to the stock and refuse salary and bonuses just like Jobs did. I think the senior staff now is very greedy and not all that productive.
Since, according to many knowledgeable MDN commenters, Apple CEO Tim Cook is a travesty of leadership who has allowed innovation, product quality and design standards to slip, why not replace him with Angela Ahrendts? As Burberry CEO, she oversaw a resurgence of top-drawer innovation, quality and design, rescuing the fading company from the doldrums.
As for the sissification of Apple since the death of Steve Jobs, bullshit! Steve himself steered his company ship toward the shoals of fashion, famously promoting Jonathan Ive to unimpeachable status. Apple’s Macs and their user-friendliness were sneered at from the very beginning by serious computer professionals. And their product marketing and pricing intentionally radiate luxury appeal.
Since it’s been that way all along, put someone at the tiller who really knows these waters. Maybe then, Apple won’t be doomed any more.
No one is worth that much that is there at apple.
No executive of any company is worth that much. There is zero practcal reason for this level of obscene pay. corporations a long time ago stopped being cost effective with their leadership expenses. There is desperate need for better oversight of management compensation.
It’s totally worth it for all the, um…for the many, um…she brings so much, um…
Pfui! — She runs retail operations and customer service properly, after her predecessor John Browett bungled the job. Also, being a woman, she draws fire from some of the haters away from beleaguered CEO Tim Cook. And she is quite bright — bright enough to avoid the spotlight. Nobody sees her making speeches about social justice like Tim Cook, or gyrating at Golden State Warriors games whilst iTunes festers like Eddy Cue, or printing expensive gold-leaf books and designing bespoke shotguns like Sir Jony Ive. She is literally minding the store while the men clown around.
What does she actually do? Stores look the same to me.