revolt among Apple shareholders

Tim Cook Keynote iPhone 12

Last January, Apple revealed that its president Tim Cook was going to obtain a remuneration of 99 million dollars for the year 2021. A sum obtained in particular via bonuses and shares, because his salary amounts to 3 million. of dollars.

This generous compensation is not to everyone’s taste within the Cupertino company. Thus, the Institutional Shareholder Services (ISS), a group of Apple investors, asked shareholders to oppose this payment. They share ” important concerns “.

An action that has little chance of convincing shareholders

They believe that the sums presented greatly exceed the amounts granted to the directors of comparable companies, in particular with regard to shares: 82 million dollars, but also security costs: 630,630 dollars, or even jet travel private: $712,488.

Not everyone is of this opinion at the Tech giant because, for its part, the board of directors recommends that shareholders approve the compensation of Tim Cook. Moreover, as recalled appleinsider, this is not the first time that the ISS has said no to a reward program from the Apple brand. This was already the case in 2015 but also in 2011, when the group had asked the company to reveal its succession plans given the shaky state of health of Steve Jobs.

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Not sure, however, that their arguments will succeed in convincing the shareholders who, to tell the truth, do not have much to reproach Tim Cook for. Under his command, Apple’s financial results are indeed very good and Apple’s share price has literally skyrocketed. The Cupertino company has also become the first in history to exceed 3000 billion dollars in capitalization.

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