Apple chief operating officer Tim Cook stepped up and filled in for Steve Jobs during Jobs' leave of absence last year, and has been given a discretionary bonus of $5 million, along with 75,000 shares of Apple stock (currently worth just shy of $17 million), by way of thank you bonus.
Keeping Apple not only stable but thriving during the absence and then-uncertain future of their famous CEO, however, was no doubt invaluable to Apple and its shareholders.
Congrats to Tim Cook then. Don't spend it all on iPad pre-orders (though that would certainly explain the 91,000 units in the first 6 hours!)
Reader comments
Tim Cook's Bonus: $5 Million Cash, $17 Million Stock. Filling in for Steve Jobs: Priceless
Good for him but certainly was no STEVE JOBS...
The man did work above and beyond his job description during a time when the company needed somebody to do so, and did it well enough that the company remained very profitable. That is precisely the situation where a bonus should apply...
@(Copy of) Dev :I agree with you! But 17 million $ ? Don't you think thats a bit too much???
I think that's way too small of a bonus if you think about it. He has helped lead and profitably grow the company and double the market value for shareholders to over $200 Billion! A tiny fraction of 1% of that in bonus is not too much.
Compare that to an A-Rod who makes more than that each year regardless of performance for a NY Yankees team that's maybe only worth $2B or a top footbol player for Man-U which is $4B in debt.
You have to love the invisible hand of the marketplace
I dont know where u got that man utd are 4bil in debt only 700mil in debt thank you, and no offense to americans but the sooner the glaziers get out of the club the better dont come to our country wrecking our sport by putting it in debt, just cause its bigger than american football no need to screw us over, sell up and put the money into the tampa bay or what ever team it is and win the superbowl, and i think he should share the shares out with people who brought the iphone during that period cause we were the ones that got he that bonus in the 1st place
Sorry Spazbite, English Premiere League teams are $4.8B in debt, Man Utd about $750M of that, per current Business Week article p28. My intent wasn't to criticise the financial condition of your favourite team, it was to point out how little this bonus is in relation to the value Cook helped create ($100B ) vs the routine high salaries sports stars make for adding relatively little value to teams worth one 1/100th of that.
Ah rite sorry my bad mis understood lol
I really can't believe it. I hope Wayne is ok for the cup!
You have to love the invisible hand of the marketplace
Compare that to an A-Rod who makes more than that each year regardless of performance for a NY Yankees team that’s maybe only worth $2B or a top footbol player for Man-U which is $4B in debt.
As long as the company is not paying for it or the phone is not being used in public were the employee is serving as a representative of Microsoft who cares?
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