It’s not all good news for the apple firm. On many occasions we think that being the CEO of a large technology company is quite simple, because at first glance, the task is limited to maintaining the sales level , as well as presences in the different markets .
Tim Cook suffers another pay cut
Usually it’s not all that easy. In fact we have known through the Wall Street Journal, that the salary of Tim Cook himself has been reduced by 1.5 million dollars .
The main reason why Apple would have cut its president’s salary would be the failure to meet two main objectives: revenue and profit margin . Both were due to the company’s economic issues.
It should be noted that Mr. Cook’s salary was already cut in 2016. Reducing his earnings from the 10.28 million dollars to the 8.75 million dollars . Once again the president’s salary would be reduced.
Several executives have also suffered cuts
Tim has not been the only one affected by this measure, as other members of the executive board have seen their salaries cut by 9.5 percent .
On the other hand, we must remember that Cook keeps the majority of its profits in shares of the Californian firm. That is why these shares allow him to have around 100 million dollars , being this the estimated figure that the president of Apple has at present.
As we said last year, Apple has achieved good results but not the expected ones. The company is facing more and more competition and the technology markets are becoming more competitive and more aggressive .
This strategy allows the company to remain stable with the benefits, balancing the salaries of its executives with the profit of the company.
Is the reduction in salary really justified?