“Apple Inc.’s stock price has fallen nearly 42% from its all-time high of $702.10 a share last September, but the gadget maker has risen to the top by another measure: the amount it pays its chief financial officer,” James Willhite reports for The Wall Street Journal.
“Last year Apple awarded CFO Peter Oppenheimer a pay package valued at $68.6 million, the biggest in at least three years for any finance chief of a Standard & Poor’s 500 company,” Willhite reports. “Mr. Oppenheimer received just $1.4 million in 2011 because it is Apple’s practice to make stock grants—the biggest component of his 2012 pay—every two years. Last year he received a stock award valued at $66.2 million at the time of the grant; it will vest over a period of years.”
Willhite reports, “The second-highest-paid CFO was Oracle Corp.’s Safra Catz, who is also president of the computer software and hardware maker. Her pay for the company’s fiscal year ended May 31, 2012, the most recent year for which data were available, was valued at $51.7 million. The lion’s share came in the form of stock options worth $48.3 million at the time of the grant.”
Read more in the full article here.
MacDailyNews Take: CFOs do not set their companies’ share prices.
Oppenheimer is worth every penny and then some.
[Thanks to MacDailyNews Reader “Rainy Day” for the heads up.]