For non-sales plan to the CEO salary cut

Apple’s CEO Tim cook (Tim Cook) received for the year 2016 remuneration in the amount of 8.75 million dollars. For comparison: in 2015, this amount was equal to of 10.28 million. The reduction is due to the fact that the company did not meet the planned sales and less profit than expected.

Apple products last year was sold at 215,6 billion. This figure is 3.7% less than planned (223,6 billion dollars) and 7.7% less than in 2015. Operating profit for the year decreased by 15.7%.

Approximately 63% of the annual income of Apple accounts for the iPhone. However, sales of these devices decreasing over the last three quarters. According to the company, in the fourth quarter it sold 45.5 million units, 2.5 million less than in the same period of 2015.

It remains to add that part of the salaries and bonuses lost not only cook, but also other Apple senior executives.

Source: WSJ

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