Shijal ChudasamaJanuary 13, 2023

Tim Cook, the CEO of Apple, will see a pay decrease of nearly 40% this year.

Tim Cook, the CEO of Apple, will see a pay decrease of nearly 40% this year.

Tim Cook, the CEO of Apple, will receive a more than 40% compensation reduction this year.

The IT firm claims that Mr. Cook asked for the reduction in pay after receiving feedback from shareholders.

He received a total "target compensation" from Apple's compensation committee of $49 million (£45.1 million) for 2023.

A global economic slowdown and problems with the supply chain caused the iPhone manufacturer's shares to drop precipitously last year.

Apple stated in a filing with a US financial watchdog that "the Salary Committee considered shareholder criticism, Apple's extraordinary performance, and a proposal from Mr. Cook to increase his compensation in light of the feedback received."

Mr. Cook's base yearly pay will remain at $3 million as a result of the change, along with a bonus of up to $6 million.

How he will be given shares in the company will make the most difference to his compensation package.

He received $75 million in shares from the firm in 2022, with half of those shares contingent on Apple's stock market performance.

His stock award objective for this year has been reduced to $40 million, with 25% of it contingent on share performance.

Although Mr. Cook's actual total salary for 2017 was $99.4 million, the aim for his compensation in 2022 was $84 million. This sum included $712,500 for his use of a private jet as well as $630,600 for personal security expenses.

An influential investor advisory organization encouraged Apple shareholders to vote against Mr. Cook's compensation plan last year.

Institutional Shareholder Services (ISS) wrote to investors to express "serious concerns" regarding the "design and amount" of the package.

The ISS reported that Mr. Cook's income was 1,447 times greater than the typical Apple employee's salary.

Just a few weeks before Apple co-founder Steve Jobs passed away in August 2011, Mr. Cook was named CEO of the company.

During a turbulent year for the technology sector, under Mr. Cook's leadership, Apple became the first business to reach a stock market valuation of $3 trillion before sliding to approximately $2.1 trillion.

Lockdowns at Chinese manufacturing, supply chain hiccups, and a slowdown in the global economy have all contributed to a 20% decline in Apple's share price during the past year.

According to Forbes magazine, the 62-year-personal old's worth is estimated to be approximately $1.7 billion. Mr. Cook has promised to donate all of his wealth over his lifetime.

Tim Cook, the CEO of Apple, will see a pay decrease of nearly 40% this year.
Shijal ChudasamaJanuary 31, 2023

India's budget would face severe challenges during the upcoming fiscal year.

Indian Prime Minister Narendra Modi's administration will deliver its final budget for a complete fiscal year on February 1 before he and the

India's budget would face severe challenges during the upcoming fiscal year.
Shijal ChudasamaJanuary 31, 2023

Uzbekistan imprisons demonstrators due to discontent against the government

22 persons, including a journalist, were given varied prison sentences by an Uzbek court for the fatal uprising that occurred in the independent

Uzbekistan imprisons demonstrators due to discontent against the government
Shijal ChudasamaJanuary 31, 2023

Bahraini prisoners suffer long-lasting "wounds" as a result of torture

According to a recent investigation, torture and other alleged breaches they allegedly faced during their arrest, questioning, and detention are

Bahraini prisoners suffer long-lasting "wounds" as a result of torture
Shijal ChudasamaJanuary 30, 2023

The 150-day march of Gandhi is over. Will it, however, reinvigorate Congress?

On the final day of his over 150-day cross-country "unity" march, hundreds of people defied the bitter Himalayan cold to gather in Srinagar, the

The 150-day march of Gandhi is over. Will it, however, reinvigorate Congress?
Shijal ChudasamaJanuary 30, 2023

NATO commander calls on South Korea to increase military aid to Ukraine

Jens Stoltenberg, the secretary-general of NATO, has asked South Korea to step up its military aid to Ukraine, citing other nations that have

NATO commander calls on South Korea to increase military aid to Ukraine
Shijal ChudasamaJanuary 30, 2023

More Russian military have moved into the Ukraine border region: Governor

According to the regional governor, Russia has sent more troops and equipment to its western Kursk region along the Ukrainian border. Roman

More Russian military have moved into the Ukraine border region: Governor
Shijal ChudasamaJanuary 30, 2023

Finland declares it will support Sweden's NATO application.

According to Finland's foreign minister, despite a potential Turkish stumbling block on Sweden's NATO application, both countries still intend to

Finland declares it will support Sweden's NATO application.
Shijal ChudasamaJanuary 30, 2023

Death toll from Peshawar mosque explosion rises to 32

A suspected suicide explosion targeting police officers at a mosque in the Pakistani city of Peshawar has left over 30 people dead and 150 others

Death toll from Peshawar mosque explosion rises to 32
Shijal ChudasamaJanuary 28, 2023

India's Adani Group loses $48 billion in stocks due to allegations of fraud.

After a US investment firm said that Gautam Adani, the richest man in Asia, had engaged in "brazen" corporate fraud, shares of his business empire

India's Adani Group loses $48 billion in stocks due to allegations of fraud.
Shijal ChudasamaJanuary 28, 2023

India forbids the BBC's Modi film, "Ghosts of Gujarat"

The 2002 Gujarat riots are the subject of a BBC documentary that sparks a media frenzy in India. Additionally, the labor movement vs. the UK

India forbids the BBC's Modi film, "Ghosts of Gujarat"
Shijal ChudasamaJanuary 28, 2023

At a memorial for death camps, Russian "megalomania" in the Ukraine war is mentioned.

A recent massacre in Ukraine by Russian soldiers has been linked by the head of the Auschwitz Nazi death camp memorial to similar misery endured

At a memorial for death camps, Russian "megalomania" in the Ukraine war is mentioned.
Shijal ChudasamaJanuary 28, 2023

High-stakes presidential primaries are held by the Maldives' ruling party.

In a primary that will be held by the Maldives' ruling party, current President Ibrahim Mohamed Solih will face off against Mohamed Nasheed, a

High-stakes presidential primaries are held by the Maldives' ruling party.
Shijal ChudasamaJanuary 28, 2023

Afghan artist who is currently a refugee discusses the predicament of women

Thousands of Afghans left the country when the Taliban took back control in August 2021 out of concern for restrictions on their freedoms. One of

Afghan artist who is currently a refugee discusses the predicament of women
Shijal ChudasamaJanuary 27, 2023

Egypt's "oldest and most complete" mummy

Near Cairo, Egypt's capital, archaeologists unearthed a Pharaonic tomb with what may be the oldest and "most complete" mummy ever found

Egypt's "oldest and most complete" mummy
Shijal ChudasamaJanuary 27, 2023

UN denounces M23 rebel assault on DRC town as hundreds of people escape

The M23 rebel onslaught in the east of the country, which prompted 450 people, including women and children, to flee to the area near the UN

UN denounces M23 rebel assault on DRC town as hundreds of people escape
Shijal ChudasamaJanuary 27, 2023

US sanctions Wagner Group's financial support from a Chinese company

For allegedly providing satellite footage of Ukraine to support the mercenary Wagner Group's military operations for Russia, the US has sanctioned a

US sanctions Wagner Group's financial support from a Chinese company
Shijal ChudasamaJanuary 26, 2023

After securing combat tanks, Ukraine wakes up to devastating attacks

During the wave of missile and drone attacks that Russia launched against Ukraine, at least one person was reported dead in Kyiv. A day after

After securing combat tanks, Ukraine wakes up to devastating attacks
Shijal ChudasamaJanuary 26, 2023

Overview of the Middle East: Turkey, Sweden, NATO, and the Quran

NATO negotiations between Sweden and Turkey are broken off, the chief prosecutor of Lebanon and the judge who is trying to indict him square off,

Overview of the Middle East: Turkey, Sweden, NATO, and the Quran
Shijal ChudasamaJanuary 26, 2023

"Killing spree" in Iran as the authorities crack down on opposition

Alireza Akbari, a British-Iranian national and former deputy defense minister, was executed by Iran recently on suspicion of spying for the United

"Killing spree" in Iran as the authorities crack down on opposition
Shijal ChudasamaJanuary 26, 2023

The Bank of Canada raises rates, becoming the first large bank to do so.

The Bank of Canada became the first significant central bank fighting global inflation to declare it would probably delay future rises for the time

The Bank of Canada raises rates, becoming the first large bank to do so.