Apple’s CEO, Receives a 40% Pay Cut in 2023

40% cut-off in Apple CEO’s pay, New salary was set for the year 2023

On the basis of last year’s progress of the company and due to the objections of shareholders the new pay was set by the CEO himself. The shareholder said to set the pay by Tim Cook, CEO of Apple. He has decreased his pay by 40% for the year 2023. The new horizons are also set with the aim that the company will increase its sale from 50 to 75%.

Tim’s basic salary and other expenses will remain the same but his share award will be decreased. His basic pay is $3 million. In the year 2022, he received $99.4 million. It includes the basic, $83 million share award, and $13.4 million in other forms of compensation. While in the year 2021, he received $98.7 million.

In last year the company performance was not good due to many reasons. The disturbance in the supply chain and international decrease in demand as a result of inflation was the major reason to make it down.

Written by Aly Bukshi

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