Timothy D. Cook, who took over as the Chief Executive Officer of Apple post Steve Jobs’ untimely death, received $4.17 million compensation in 2012. This comes after Cook received one of the biggest payout packages of 2011. His total pay includes $1.36 million in salary and $2.8 million in incentive plan compensation.
Cook, who succeeded Jobs in 2011, in the past several months has led an overhaul of Apple’s entire product line. This includes the introduction of new iPhones, iPads and Mac computers. In 2011, he received a compensation of $378 million, which is one of the biggest pay packages on record.
Others in Apple also received pretty good packages in 2012. Bob Mansfield, Senior Vice-President of Technology, received $85.5 million, including $83.1 million in stock and Jeff Williams, Senior Vice-President of Operations, received $68.7 million.
Cook recently faced quite a setback when Apple users criticized the company’s map application, due to which they was forced to rely on Google’s maps for the iPhone and the iPad. Moreover, the tech giant’s stock has fallen 27 percent since September, 2012. This has put a lot of pressure on Cook to introduce a new product that will fend off competitors Google and Samsung.
Apple looks to continue the success it has seen with the sale of the iPhone and iPad mini in 2012, as it looks to 2013 with renewed interest.