Apple CEO Tim Cook to take more than 40% pay cut
New York, Jan 13: Apple CEO Tim Cook will take a more than 40% pay cut this year from a year earlier as the company adjusts how it calculates his compensation partly based on a recommendation from Cook himself.
Apple Inc. said in a regulatory filing late Thursday that Cook's target total compensation is 49 million for 2023, with a
3 million base salary, and 6 million cash incentive both unchanged from the previous year and 40 million in equity awards.
Last March the Cupertino, California, company conducted an advisory shareholder vote on executive pay with 6.21 billion shares voted in favour of the executive pay package and 3.44 billion against.
There were also abstentions and broker non-votes.
Apple said its compensation committee took into account shareholder feedback, the company's performance and a recommendation from Cook, who was promoted to to CEO in 2011, to adjust his compensation in light of the feedback received.
Apple said Cook supported the changes to his compensation.
The company plans to to position Cook's annual target compensation between the 80th and 90th percentiles relative to its primary peer group for future years, according to the filing.
In 2021, Cook received a compensation package valued at 98.7 million. Just 3 million of that was salary. The vast majority came from a grant of restricted stock, valued at 82.3 million.
The company will hold its annual meeting March 10.
In early trading, Apple shares edged down to 132.38. The stock has declined about 23% in the past year.
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PM Modi lauds reduction in tuberculosis incidence in India
New Delhi (PTI): Prime Minister Narendra Modi on Thursday lauded the reduction in the incidence of tuberculosis in India since 2015, which was twice the global rate of decline and credited it to the expansion of treatment coverage.
India's TB incidence, which refers to new cases emerging each year, reduced by 21 per cent, from 237 per lakh population in 2015 to 187 per lakh population in 2024, according to the World Health Organisation's Global TB Report 2025.
The reduction is almost double the pace of the decline observed globally at 12 per cent, the Health Ministry said.
"India's fight against TB is achieving remarkable momentum. The latest WHO Global tuberculosis report 2025 highlights that India has recorded a commendable reduction in TB incidence since 2015 and it is nearly twice the global rate of decline," Modi said in a post on X.
The Prime Minister said the decline in incidence of TB in India was one of the sharpest drops seen anywhere in the world.
"Equally heartening is the expansion of treatment coverage, the fall in 'missing cases' and the sustained rise in treatment success. I compliment all those who have worked towards achieving this success. We remain committed to ensuring a healthy and fit India," Modi said.
