Tech giant Apple cuts Tim Cook’s 2023 pay by more than 40%

Apple disclosed in a regulatory filing on Jan 12 that it will reduce Cook’s target compensation to US$49mil (RM212.43mil) in 2023 from US$84mil (RM364.18mil) in 2022. — AFP

CUPERTINO, California: Technology giant Apple is cutting chief executive Tim Cook’s compensation by more than 40%, citing investor guidance and a request from Cook himself to adjust his pay.

The company disclosed in a regulatory filing on Jan 12 that it will reduce Cook’s target compensation to US$49mil (RM212.43mil) in 2023 from US$84mil (RM364.18mil) in 2022.