Last January, Apple revealed that its president Tim Cook would getcompensation of $99 millionfor the year 2021. A sum obtained in particular via bonuses and shares, because his salary amounts to 3 million dollars.
This generous compensation is not to the taste of everyone within the Cupertino company. Thus, 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 estimate that the sums presented far exceed the amounts granted to directors of comparable companies, particularly with regard to shares: $82 million, but also security costs: $630,630, or even jet travel. private: $712,488.
Not everyone at the Tech giant is of this opinion because, for its part, the board of directors is recommending that shareholders approve Tim Cook's compensation. Moreover, as recalledAppleinsider, this is not the first time that the ISS has said no to a compensation program from the Apple brand. This was already the case in 2015 but also in 2011, when the group asked the company to reveal its succession plans given the failing state of health of Steve Jobs.
Not sure, however, that their argument will succeed in convincing the shareholders who, in truth, have little to criticize Tim Cook. Under his leadership, Apple's financial results are indeed very good, and Apple's stock price has literally soared. The Cupertino company has also become the first in history to exceed the3000 billion dollars in capitalization.
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By : Keleops AG
