The Committee intends for future stock awards to Apple executives officers to be performance-based and Cook will lead by example. However, though normal performance-based compensation normally has both an upside and downside, at his request, Cook’s award will solely have a downside component.
That is a leader.
Goes beyond the symbolics of a $1 salary, and more than anything, demonstrates that his passion for his work is what truly drives him.
Awesome!
Nice job Jim being the only blogger who says that Tim asked for it in the title. While all the other #idiotbloggers try and make it sound like the Board is doing it because of bad performance.
I agree with this kind of notion. Give him a reasonable salary for doing his work and the rest is bonuses for a job well done.
I have often thought that actors should be the same way. Why the heck does someone like Tom Cruise get $10 million on the idea that he brings in the box office and when he doesn’t, he still gets the $10 million.
There’s more than just a good idea or a bad idea that makes it big in the box office. Marketing, current events, etc.
If only this could become a standard for corporate hires at his level.
You can be sure that this will piss off a great number of executives around the world.
Cook should push this out to the media as much as possible.
He should be rubbing his giant halfway ethical package in the faces of every C-level employee around the world.