Tim Cook accepts a 41% cut in his remuneration as Apple CEO in 2023

The CEO of the technology giant Apple,

will see the total remuneration to be received for his duties at the head of the iPhone manufacturer reduced by 41.6% this year, after the executive himself has recommended an adjustment in his emoluments after criticism from shareholders of the multinational.

"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 reported.

In this way, the compensation target to be received by Cook in 2023 has been set at

(45 million euros), 41.6% below the target of 84 million dollars (78 million euros) for the financial year 2022.

Specifically, the CEO of Apple will continue to receive a base salary of 3 million dollars (2.8 million euros), the same that he has received annually since 2016, and will receive the same bonus of 6 million dollars (5.5 million euros) than in 2022.

However, the target value established for the component in shares of the company of the remuneration of Apple's top executive has been reduced to 40 million dollars (37 million euros), compared to 75 million dollars (69 million euros). ) of the last exercise.

Likewise,

, compared to the 50% set in Cook's remuneration package for 2022.

"Given Apple's comparative size, scope, and performance, the Compensation Committee intends to position Mr. Cook's compensation target between the 80th and 90th percentiles relative to our core peer group for future years. ", explained the multinational.

In this sense, Apple indicated that "following the 2022 'Say on Pay' advisory vote, subsequent shareholder commitments, and discussions with Cook himself, the Compensation Committee approved compensation for 2023 that they believe responds to the comments shareholders while continuing to align pay with performance and shareholder interests, as well as recognizing Cook's outstanding leadership."

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