From Jason Aten's "Why Tim Cook's $50 Million Pay Cut Is His Smartest Leadership Move Yet" posted Saturday by Inc.
Tim Cook is, arguably, the most successful CEO of his generation. For that matter, he's probably the most successful CEO of any generation. Under his leadership Apple grew from a reasonably successful company with a still relatively new hit, the iPhone, into the world's most valuable and most profitable company, ever.
A large part of that success has come from Cook's unique set of skills that have led Apple through various challenges over the past decade. As a result, he has been rewarded with what can only be described as a very generous compensation package, especially over the past few years.
His pay was just under $15 million in 2020, but it jumped to more than $98 million in 2021, and $99.4 million in 2022 when you add up his salary and stock awards. While he isn't the highest paid CEO in the world, he's doing just fine.
This year, however, as Apple prepares for its annual shareholder meeting, Cook is taking a pay cut. It's worth mentioning that the pay cut isn't in response to Cook's performance... It also seems worth mentioning that--according to Apple--Cook himself recommended the change. "The compensation committee balanced shareholder feedback, Apple's exceptional performance, and a recommendation from Mr. Cook to adjust his compensation in light of the feedback received," the company said in an annual filing released Thursday.
My take: Tim Cook didn't get where he is today without knowing how to read a room.