Tim Cook Agrees to 40% Target Pay Cut

[Tsing]

There may be a couple less yachts in Tim Cook's future. As reported by CNN today, the 62-year-old Apple CEO has agreed to a massive pay cut, one in which his target pay package will be reduced to a smaller but apparently adequate $49 million. This is 40% lower than Cook's target pay for 2022, and about half of the $99.4 million total compensation that he was granted last year, according to CNN's coverage. Cook's base salary of $3 million will stay the same, including a $6 million bonus.

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[Brian_B]

Poor fella. Might need to apply for assistance.