Apple CEO’s pay package drops 99 percent from 2011

Apple CEO Tim Cook speaks to the audience during an Apple event in San JoseNEW YORK (Reuters) – Tim Cook has finally made it to the top at Apple Inc , but in his first full year as CEO his pay package shrank about 99 percent. Cook, the successor to the late Steve Jobs, was awarded total compensation of $ 4.17 million in 2012, down from $ 378 million in 2011, Apple said in a federal filing on Thursday. The 2012 compensation package for Cook, who took over as chief executive in August 2011, also seemed a pittance compared with his 2010 pay, which was 14 times higher, when the executive served as chief operating officer. …

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