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Apple Cuts Tim Cook's Pay After 2016 Performance Falls Short (cnbc.com)
Apple cut CEO Tim Cook's 2016 pay after the iPhone maker missed its revenue and profit goals for the year. From a report on CNBC: Although Cook's annual salary went up by $1 million, he received $8.75 million in total compensation for the year, according to an SEC filing posted on Friday, down from the $10.28 million he received in 2015. Company executives received about 89.5 percent of their targeted annual incentives. The company said its annual sales were down nearly 4 percent, or $215.6 billion, from its target of $223.6 billion, and its operating income was down 0.5 percent from its target at $60 billion, according to the filing.Apple last year faced declining revenue as it grappled with the first prolonged slump in iPhone sales. The salary of some other executives were also trimmed.
Thin will be in until he's removed as CEO. HP made their laptop 1.8mm thicker for a third more battery life in order to drive their 17" 4K monitor. Apple needs to do the same.
Yeah, they're on fire!
The question that never seems to get asked is: Why do these executives get these incredible salaries? Does anybody - apart from the tiny elite at the top - really think it is good value for money?
Apple last year faced declining revenue as it grappled with the first prolonged slump in iPhone sales.
Not really shocking. The iPhone 7 is barely different from the iPhone 6. They gave users no reason to upgrade. They've basically ignored the Macintosh line for several years now. They haven't done anything particularly novel or interesting in their iPad line in quite a while. They introduced the Apple Pencil but didn't really commit to building the software to make it useful or give users a way to store it in/with the device between uses. I hate to say it but the Microsoft Surface line has been a lot more innovative recently. The Apple Watch was always going to be a niche product at best and they haven't done anything interesting with Apple TV.
Apple hasn't released anything new or noteworthy so why should their revenue be expected to go up. Their products are still good but they really need to push the envelope a bit more if they want to maintain their current gaudy profit margins.
Only 8 millions! How will he possibly survive?
Folks, let's start a Patreon for him, we cannot let him starve.
We used to have a Bill of Rights. Now, with the rights gone, all we have left is the bill.
Let's face it... it's not as if replacing Jobs was going to be an easy task- it may have been impossible.
That being said, Apple is not living up to the standard Jobs set. Maybe that's Cook's fault... maybe not. The recent products are lame. They've eviscerated their computer business. So if new products don't hit... it's not like they can fall back on the unfulfilled promise of OSX. They've been so successful with new consumer innovations, they've tossed away all the vertical markets they used to rule.
This is a dangerous position. They shouldn't cut his pay- they should fire him and find someone to take over.
Another consultant who stuck it out.
"We are the Priests, of the Temples of Syrinx..."
I can remember sitting outside in 2007 waiting for the store to open and start selling the original iPhone. It was hot in the mid-summer sun sitting on that hard concrete, but it was worth it to upgrade from the aging PalmOS. It wasn't perfect, but I loved it. I ended up buying the latest one every year since just to have the fastest version of my favorite phone. That lasted until 2016.
Of 10 friends (and their spouses), virtually no one has upgraded to an iPhone 7. Half upgraded to a larger storage capacity iPhone 6S intending to keep it for another year or more. The rest have considered Android, but haven't made a purchase. Losing the headphone jack has been a major problem. If it isn't connecting it to your older car with 3.5", but no Bluetooth, it is connecting it to headphones or something else we already own.
Hopefully Apple will be brave enough to put the headphone jack back in. I can't see using a phone without one. I'm apparently not the only one.
I am sure that some PR dolt is telling Apple that they really get to the public to understand their message. However, it seems clear that the sustained and pretty narrow criticism that their non-phone hardware is crappy is not a marginal opinion. They simplified their line into a 'use old laptop parts for everything' which may make sense from the perspective of simplifying their parts bin but not for much else.
This does mean they have a lot of options for correcting this tailspin. It may be selfish, but from my perspective I want a data truck. Give me a Mac Pro tower.
---- The above post was generated by the Turing Institute. Maybe.
Have WOZ come back and make good macs that pro users, gamers, etc can use.
Getting a pay cut isn't going to motivate him. He clearly isn't bringing his A game... he needs to be incentivized; perhaps a more aggressive bonus structure, or more stock options? Maybe he needs a big raise? You need to do this to attract and retain talent! /sarcasm
Tim Cook is a stupid bean counter, and Jony Ive is destroying Apple with his ego. The lost their Consumer Reports recommendation for the first time. Their machines are becoming dreadful.