Apple shareholders approve a new decision: Tim Cook will receive a reward of nearly $50 million if the company achieves all its financial goals

CTOnews.com, March 11 (Xinhua)-- Apple's CEO will receive a reward of nearly $50 million (CTOnews.com Note: currently about 348 million yuan) if the company achieves all its financial targets this fiscal year, Bloomberg reported.

The $50 million award includes a base salary of $3 million (CTOnews.com Note: currently approximately RMB 20.91 million), a cash bonus of $6 million (CTOnews.com Note: currently approximately RMB 41.82 million) and a stock award worth approximately $40 million (CTOnews.com Note: currently approximately RMB 279 million). Mr Cook received $99 million in 2022, but his salary fell 40 per cent to $49 million in 2023. His salary will be closely related to the overall performance of the company.

Bloomberg reported that shareholders have passed a new proposal to determine executive pay through an annual vote. Apple executives include Apple Chief operating Officer Jeff Williams, General Counsel Katherine Adams, Retail Director Deirdre O'Brien, Service Director Eddy Cue, Software Director Craig Federighi, Chief Financial Officer Luca Maestri The average salary in 2023 is $27 million (CTOnews.com Note: currently about 188 million yuan).