TECHBITE: Apple CEO Tim Cook’s total salary dropped to ‘Rs. 14.5 Crore’ per month due to poor iPhone sales in 2019

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 Apple chief Tim Cook saw his annual pay slip to $11.6 million in 2019 after the company registered a weaker financial performance compared with the previous year, according to documents filed Friday.

Cook, who took home $15.7 million in 2018, is paid a base salary of $3 million, in addition to a bonus and various compensations.

His 2019 incentive bonus, which is tied to Apple’s performance, tallied about $7.7 million, and was calculated based on the fact that Apple exceeded its sales target by only 28 percent.

That compared with $12 million in 2018, based on the company exceeding its sales target by 100 percent, the filing with the Securities and Exchange Commission said.

Cook’s 2019 pay was also reported to include another $885,000 worth of benefits, most of which were for security and use of a private jet.

As iPhone sales have weakened, Apple has been shifting to earnings from digital content and services sold to the legions of fans of its devices. Apple reported net sales of $260.2 billion and operating income of $63.9 billion for 2019, it said in the filing.

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