14 DAY TRIAL // The chief executive officer of Apple Inc. has been awarded $9.22 million (€8.14 million) for his input last year, which includes his base salary of $1.75 million (€1.55 million), and $6.7 million (€5.92 million) in non-equity incentive compensation for fiscal 2014.
Bloomberg reports that Apple’s CEO saw his compensations double compared to 2013, mainly on the big-screen iPhones, the Apple Watch announcement, and the rise in share and market valuation.
Tim Cook was instated as CEO shortly after co-founder Steve Jobs stepped down from his position with Apple in 2011. Jobs died later that year, and Cook has been running the show ever since. Cook has responsible for a few ideology changes at Apple, including a push for racial and gender equality, as well as major charitable efforts.
Drexler resignation, Ahrendts’ pay check
We also learn from the Bloomberg report that Apple will be losing a board member soon.
Millard Drexler, who serves as CEO and chairman of J. Crew Group Inc., will reportedly retire from Apple’s board, “where he’s served as a director since 1999,” according to the report. Apple has yet to name a replacement.
Drexler has been the Chief Executive Officer, Chairman of the Board and a director at J.Crew since 2003. Before that, he was Chief Executive Officer of The Gap, Inc. from 1995 until 2002, and was also President there, from 1987 to 1995.
As part of its SEC filing this week, Apple also revealed the compensation awarded to its newly-instated retail chief, Angela Ahrendts, which came to Apple from Burberry last year.
Ahrendts reportedly has a salary of $411,538 (€363,509), but received a compensation package worth $73.4 million (€64.83 million) in 2014 (mostly for the effort she made to switch camps).