Apple cuts CEO Tim Cook's pay, citing performance

marketwatch ^ | Jan 6, 2017 8:42 a.m. ET | Austen Hufford

[ImJustAnotherOkie]

Apple Inc. said Chief Executive Tim Cook and other leaders received less total compensation in 2016 as the company missed its revenue and profit goals for the year.

According to a regulatory filing on Friday, Apple said its annual sales of $215.6 billion were 3.7% below its target of $223.6 billion, and its operating income of $60 billion was 0.5% short of the $60.3 billion target.

As a result, company executives got 89.5% of their targeted annual cash incentive. In 2015, the executives got 100%. In all, Mr. Cook received $8.75 million in total 2016 compensation, down from $10.28 million in 2015. Other executives also received lower pay.

[ImJustAnotherOkie]

Did their big Investment in Hillary Backfire? Of course their products fell short.

[1Old Pro]

Sorry if I offend anyone, but if Apple didn’t have a cult following they would be hurting.

[I want the USA back]

Ohhhhh, homophobia!

[Wolfie]

Damn, time to start cutting coupons, Mr. Cook.

[VanDeKoik]

They refuse to cut the Jobs era lose.

They know the moment they do, it will be like the Chicago Bulls when Jordan left, and they may be in the wilderness for a long time. But it has to be done or else Apple 2025 will look absurdly like Apple 2008, just 4mm thinner and without the headphone jack.

[ImJustAnotherOkie]

You’re not offending me but you may get some hate mail.

Win10 is poised to be a Universal OS in the next few years. IOS and chili macOS(formerly known as OSX) will be splintered through eternity.

I just saw Dell unveiled their new XPS 15. That keeps them a year ahead of Apple but the gap is far more than that. Apple engineering has collapsed. Logistics doesn’t substitute for Engineering.

Engineering gave Apple their swagger, now Apple is like Al Capone sitting on the dock suffering from syphilis.

[oldplayer]

Of course if he had about a .195 batting average, he could make that much as a back-up infielder for a mid-level major league baseball team.

[Swordmaker]

Apple does not give executives as large of an incentive awards in 2016 as it did in 2015 because Apple did make as much in 2016 as it did in 2015 . . . but the headline claims Apple cuts executive pay. More fake news. — PING!

Apple Financial News
Ping!

The latest Apple/Mac/iOS Pings can be found by searching Keyword "ApplePingList" on FreeRepublic's Search.

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[Da Coyote]

Well, Cook has evidently believed that supporting politically correct causes and corrupt politicians trumps (heh) actually building stuff that people want.

Any, that’s ANY, company that diverts dollars that should go into technology to causes supported by the left half of the Bell curve (read, progressives) should be fired, tarred, feathered, and left for the birds.

Oh, I am an Apple fan, but thanks to Cook (the master of mediocrity), when my stuff needs to be replaced, I’m not expecting Apple to have something I want.

[Vinnie]

IMO they need to change the locks.
I’ve gotten very disappointed in the products Apple has turned out recently.
In particular the MacBook.
First they dumped the DVD player. So if you wanted to run a instruction CD you need a separate external device. Kinda defeats the purpose of a laptop.
Now the new MacBooks have one input socket. Everything has to connect thru that one port. Gotta have several adapters and external devices.
They removed the SD card slot.!
What is the thinking behind that idiotic move??
All to make the laptop thin and beautiful.
And they removed the Magsafe electrical connection! One of Macs selling points.

IMO they are no longer practical. And I love the several year old MacBook I have. Bought it used so it would have all the features to new ones don’t.
Love OSX, love Macs troublefree operation.

Tim Cook needs to be fired IMO.

[georgiarat]

The key difference between Jobs and Cook is that Jobs had strategic vision and tactical tenacity while Cook thinks efficiency and profits. They were a great team but Cook could never be successful as a CEO of a company needing strategic vision and marketing skills.

Before Jobs returned to Apple they had a lot of projects and research, no cohesion of them in a strategic vision and the products were slopply marketed. THe iPad, the major changes in the MacBook Pro and operating system were the last last major products Jobs saw to completion.

THe TV and Siri efforts were totally changed once Jobs no longer had control nor energy for major input into them. Without Jobs the negotiations with media companies faltered and Cook did what he did best, maximize profits without consideration of long term growth of the company.

Cook wants to minimize research and squeeze every dollar out of existing products to maximize profits. What happens when there are no new significant products in the pipeline for customers nor significant vision direction to evolve the products? You get the current Apple and its direction.

[KevinB]

Of course if he had about a .195 batting average, he could make that much as a back-up infielder for a mid-level major league baseball team.

Well, at least he's a switch hitter.

[wardamneagle]

What a joke.

SEC filings reveal that Apple CEO Tim Cook has sold a little over 600,000 of his AAPL shares over the past couple of weeks, netting him approximately $65M. He continues to hold more than a million shares worth some $110M.

[SamAdams76]

Seems like everybody that went against Trump ended up having a bad year.

[Rebelbase]

How can this man survive on $8.75 million/yr.?

[jennychase]

>>>>How can this man survive on $8.75 million/yr.?

Its very hard with all butt parties etc.

[dayglored]

> Win10 is poised to be a Universal OS in the next few years

Thanks for the early morning humor. Are you sure you didn't mean to post that on this thread instead? :-)

Your blind hatred of Apple seems to have caused you to miss something. Win10 is not doing well compared to where it needs to be. For instances, the uptake of Win10 has fallen below the uptake of Win7 at the same point in its deployment years ago.

...Even with the free upgrade offer, however, Windows 10 was unable to match the uptake pace of 2009's Windows 7, which last month again accounted for a majority (53%) of all Windows. At the 17-month mark, Windows 10's global user share of 26.6% -- of all Windows editions -- was slightly behind Windows 7's 27% at the same point in its post-launch timeline...
ComputerWorld

The boastful goal of "Windows 10 on 1 billion devices in 2-3 years" has disappeared into the ozone. We can agree that Win10 is certainly the future of Windows, no argument there. But can it replace the others?

Let's plan to revisit your prediction in a few years.