While criticism from shareholders is increasing regarding Tim Cook's remuneration considered too high, this announcement will bring comfort to the heart of the Apple manager. Berkshire Hathaway, the investment company led by the wealthy Warren Buffett, has just published its annual letter to shareholders.
Some shareholders oppose Tim Cook's compensation
The Cupertino company is cited as the second of the four giants which are the foundation of its portfolio. The document multiplies the compliments with regard to the apple brand of which the company owns 5.55% of the shares, a slight increase over one year which could pay off big because as Warren Buffett points out: “every 0.1% of Apple's profits in 2021 represented $100 million.»
At the same time, the letter emphasizes the role played by Tim Cook, described as “brillant PDG". It is also said that the boss of Apple “rightly considers users of Apple products to be his first love, but all his other clients also benefit from Tim's managerial touch».
There is no doubt that these words will please the Apple manager. In fact, it has recently been facing the beginnings of opposition from certain shareholders. So,l’Institutional Shareholder Services(ISS), a group of investors in the Apple brand, asked shareholders to oppose the payment of its compensation of $99 million for the year 2021. They express “significant concerns”.
The same goes forNorway's sovereign wealth fundwho wanted to voice his concerns.
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By : Keleops AG
