Apple’s Best-Paid Employee Isn’t CEO Tim Cook
Think Apple CEO Tim Cook is the highest earner in the company? Not a chance. He’s not even that close. The top spot goes to senior vice president Angela Ahrendts.
The 57-year-old baller made a cool $24.2 million (£17.9m) in 2017 according to Apple company filings.
That, for reference, is almost double Cook’s $12.8 million (£9m).
Ahrendts, who keeps an eye on strategy, real estate and development, operations of Apple’s stores, online and physical and contact centres received a basic salary of £740,000
On top of that was £15 million in stock, £2.3 million in performance pay and £65,000 in other compensation.
She has been paid more than Cook since she first joined the tech giants in 2014 from fashion veterans Burberry, where she was director and CEO.
Apple said in a statement:
Our executive compensation programme is designed to reward performance in a simple and effective way.
It reflects the unparalleled size, scope and success of Apple’s business, and the importance of our executive officers operating as a high-performing team, while focusing on key measures of profitability and the creation of shareholder value.
We believe the compensation paid to our named executive officers for 2017 appropriately reflects and rewards their contributions to our performance.
Other high-rollers on the list were finance chief Luca Maestri, hardware presidents Johnny Srouji and Dan Riccio, and general counsel Bruce Sewell.