Some Apple Execs Made More Money than CEO Tim Cook in 2014 - East Idaho News
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Some Apple Execs Made More Money than CEO Tim Cook in 2014

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012215 CookAhrendtsApple?  SQUARESPACE CACHEVERSION=1422032733999Apple(NEW YORK) — One of the most powerful women in technology has out-earned her boss, Apple CEO Tim Cook.

Angela Ahrendts, Apple’s senior vice president of retail and online stores, earned a hefty $73 million pay package in 2014, according to a filing with the Securities and Exchange Commission.

By comparison, following the release of the iPhone 6 and iPhone 6 Plus last year, Cook earned $9.2 million — more than double of what he made in 2013.

Several other Apple executives also earned more money than Cook in 2014 due to stock awards.

Luca Maestri, Apple’s chief financial officer, for example, earned $14 million, the SEC filing shows.

But Ahrendts, who joined the company in May 2014 after stepping down as the CEO of British clothing brand Burberry, was by far the top earner at the world’s most valuable company. Her compensation package included stock awards worth more than $70 million.

While Ahrendts had a sizable windfall, it’s likely that her payday, and Maestri’s, will be more in line with their peers for 2015.

Apple’s SEC filing notes that “limited exceptions” are made for awards for new hires or in connection with promotions. Ahrendts and Maestri both joined the company last year.

“Because the Company’s executive officers operate as a team, the Compensation Committee considers internal pay equity to be an important factor in its decisions on executive compensation,” the filing said. “In subsequent years, Ms. Ahrendts and Mr. Maestri are expected to receive the same annual compensation package as other executive officers.”

Shares of Apple stock opened at $112.32 on Friday, up more than 40 percent in the past year. The company will report earnings for its first fiscal quarter on Jan. 27.


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