Apple CEO Tim Cook has agreed to cut his pay this year after shareholders rebelled.
The world’s largest tech company said it would reduce Cook’s target pay package to $49 million, 40% lower than his target pay for 2022 and about half Cook’s $99.4 million total compensation that he was granted last year.
The vast majority of Cook’s 2022 compensation — about 75% — was tied up in company shares, with half of that dependent on share price performance. READ MORE