Cook’s pay plummets to $4 mln

Cook’s pay plummets to $4 mln

NEW YORK - Agence France-Presse
Cook’s pay plummets to $4 mln

AP photo

Apple Chief Executive Tim Cook’s total compensation for 2012 will plummet to $4.2 million from $378 million last year, according to a company document released on Dec. 27.

In a regulatory filing, the U.S. tech titan said the sum includes a $1.4 million salary and a $2.8 million bonus.

The total is far below what other Apple executives will pocket.

Chief Financial Officer Peter Oppenheimer will receive $68.6 million, Bob Mansfield, senior vice president of technologies, will get $85.5 and Bruce Sewell, senior vice president and general counsel, will see $69 million.

Cook’s compensation last year included a $376 million bonus in the form of stocks linked to his nomination to the company’s top post before the death of Jobs in October 2011.