News Worms
News Worms


Apple Is Now Making CEO Tim Cook Fly Private

Apple Is Now Making CEO Tim Cook Fly Private

New regulatory filings show that Cook has been given the use of a private jet for the first time, citing "the interests of security and efficiency based on our global profile and the highly visible nature of Cook's role as chief executive".

Apple gave its CEO a salary bump as sales and profit picked up this year.

Mr. Cook's total compensation for the fiscal year, which ended in September, jumped 47%-to $12.8 million-the largest bump among the five executives listed in Apple's annual proxy filing.

Apple's CEO, who helped the company launch what has now become a wildly successful step into the world of "premium smartphones" with the iPhone X, has reportedly seen his pay go up as a result - way up.

The was in addition to $20 million (£15 million) in stock, $3.1 million (£2.3 million) in performance pay, and $88,000 (£65,000) in other compensation.

CFO Luca Maestri, retail VP Angela Ahrendts, hardware technologies VP Johny Srouji, hardware engineering VP Dan Riccio, and former general counsel Bruce Sewell each received bonuses of $3.11 million, for total compensation of $24.2 million each.

The bumper award is linked to Apple's share price performance versus its S&P 500 peers and comes after the company beat its annual sales and income targets.

The iPhone maker revealed Cook now has to take a private jet for all of his travel.

New:As for a more immediate present from Apple, Cook was given the privilege of traveling on a private aircraft which is to be used for all business and personal travel.(End new) For personal travel, Cook used $93,109 in fiscal 2017 year, according to the SEC filing. In November, shortly after the start of the current fiscal year, the company released iPhone X, a long-awaited upgrade to its flagship product. In 2016, Cook actually saw his salary dip $1.5 million from the year before due to Apple falling short of its financial goals thanks to slumping iPhone sales and a downturn in Apple's business operations in China. Cook also incurred $224,216 in security expenses.

Absent from Apple's filing are details about what the company paid Chief Design Officer Jony Ive, considered by some to be its most important employee.

follow

editors' picks

December 30, 2017
Blockbuster! Tiger Zinda Hai hits double century in its first week
The movie within seven days has smashed the records of many Bollywood movies. Total it has collected crossed 200 crores till Thursday i.e in one Week.

December 30, 2017
Unemployment rates rise in Dutchess
The Texas Workforce Commission reports the county posted 3.6 percent unemployed for the month after 3.5 in October. According to statistics from that month, the civilian labor force was 30,700 and there were 29,600 people employed.

December 30, 2017
Beyonce Takes Jay-Z to Church In New Music Video
The song " Family Feud " is notable for the line "Yeah, I'll f*** up a good thing if you let me". Watch a preview of the video for " Family Feud " below and catch the full version on TIDAL.

December 30, 2017
Another court rules 'rights' only a one-way street
It was not, the judges agreed, a violation of the Kleins' constitutional rights to freedom of religion and expression. Sexual orientation, intimacy, marriage and weddings are so deeply connected, it is impossible to separate them.

December 30, 2017
Wonderful period of special full moons begins New Year's Night
Supermoons occur due to the fact that the moon is in a slightly elliptical orbit with Earth, rather than a flawless circle. The ideal time to encounter the Full Moon Supermoon is after moonrise when it is just above the skyline.

December 29, 2017
Injured in St. Petersburg Supermarket Blast
The blast comes after a suicide bombing killed 15 people and wounded dozens on the Saint Petersburg metro in April. He went on to note that another attack was thwarted recently, a reference to an alleged series of bombings in St.

December 29, 2017
Alabama calls off freeze to children's health insurance
ALL Kids has operated since 1998 and has helped reduce the number of uninsured children in Alabama from 20 percent to 2.4 percent. The program in Alabama funded by CHIP is known as ALL Kids, which has existed in the state since 1998.

December 29, 2017
Ohio Teens Charged With Tossing Sandbag Off Overpass That Killed Man
WATCH: Man in custody after concrete thrown from Ont. highway overpass onto vehicle (June 1). "My windshield is like smashed out". The new charges were added against Pedro Salinas, 13, Sean Carter, 14, Demetrius Wimberly, 14, and William Parker, 14.

December 29, 2017
Browns Coach To Jump Into Lake As Team Heads For 0-16
As of Wednesday evening, the temperature in Cleveland was 13 degrees with snow - not ideal for hanging out in the lake. Hue Jackson promised that the Browns wouldn't go 1-15 again this year, and that if they did he'd jump into Lake Erie.

December 29, 2017
Chinese auto maker buys $3 billion-plus stake in AB Volvo
The transaction would make Geely the biggest single shareholder in Volvo and the second-biggest holder of voting rights. Industrivarden declined to comment when contacted by Reuters.