News

Apple chief takes 50 percent pay cut

Apple CEO Tim Cook has agreed to take a 50 percent pay cut this year, according to paperwork filed with the Securities and Exchange Commission.

The pay cut, which will see Cook’s annual salary drop from $99 million to $49 million, is “responsive to shareholder feedback, while continuing both to align pay with performance and to recognize Mr. Cook’s outstanding leadership,” the paperwork reads.

In its most recent quarterly financial report, Apple revealed it had brought in a record $90.1 billion, representing an 8 percent increase in earnings.

The company’s annual revenue was reported to be $394.3 billion, also up 8 percent over the previous year.

Laurel Lee

Laurel Lee

Laurel Lee is a reporter for WDBO and produces various Ask the Expert shows on the weekend.

Listen

news

weather

traffic

mobile apps

Everything you love about wdbo.com and more! Tap on any of the buttons below to download our app.

amazon alexa

Enable our Skill today to listen live at home on your Alexa Devices!