Number one in Cupertino for more than ten years now, Tim Cook is a contact of choice for investors who wish to obtain details on the health of his company. But among the questions of the shareholders there is also that of the remuneration of the directors, which amounts to $98.7 million for Steve Jobs’ protege in 2021.
This sum is equivalent to more than 88 million euros. It consists of both AAPL titles unlocked after a certain time spent in the company and rewards for reaching certain profit targets. With 123.9 billion dollars in revenue in the fourth quarter, the score is also on the rise.
A question of timing?
For Norway’s sovereign wealth fund, however, this is apparently not enough. The entity manages a portfolio holding 1.03% from Apple, making it its eighth largest investor, far behind Berkshire Hathaway (Warren Buffet). A position of choice allowing him all the same to oppose with a certain echo the most strategic decisions of the manufacturer of the iPhone.
Among them, that of Tim Cook’s salary therefore, here criticized for its amount deemed too high. According to the Norges Bank Investment Management, in charge of the file, the CEO would indeed be on the way out, which some rumors seem to confirm for a few months. Thanking him in this way as he prepares to collect staggering end-of-contract indemnities would then be an exaggeration.
See you in three days
It’s the March 4 that Apple shareholders will meet to close the subject. An annual meeting where Tim Cook will also be present, and where other concerns could be raised, such as that concerning working conditions at Foxconn in Asia.
Is the principal’s salary reasonable, in your opinion? Answer Friday.