Apple CEO Tim Cook's 2012 comp package plummets

Apple boasts that Cook is paid 'significantly below the median;' doesn't ding him for Maps debacle

By , Computerworld |  IT Management, Apple, Tim Cook

The ownership guideline and Cook's future stake in the company -- once his 2011 stock award vests -- is a way for Apple to maintain the philosophy that Jobs instilled, where top executives' paychecks, including the CEO's, were overshadowed by equity compensation or an existing equity position.

"There are other examples, including Apple's policy of not offering severance to executives, that shows they're proud that there are not a lot of frills [in compensation], and they're not just a bunch of [cash] greedy guys," said Buford. "They seem pleased to carry on that tradition."

Gregg Keizer covers Microsoft, security issues, Apple, Web browsers and general technology breaking news for Computerworld. Follow Gregg on Twitter at @gkeizer, on Google+ or subscribe to Gregg's RSS feed. His email address is gkeizer@computerworld.com.

See more by Gregg Keizer on Computerworld.com.

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Originally published on Computerworld |  Click here to read the original story.
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