Angela Ahrendts, senior vice president of retail and online stores at Apple Inc. is the highest paid employee of the company for the year 2017. According to the filings by the company, the 57-year-old tech executive, took home $24.2 million (£18 million) in 2017, the Indian currency equivalent of which is approximately Rs 154.09 crore.
This is almost double of what Tim Cook took home in 2017. Cook earned $12.8 million (£9 million), the Indian currency equivalent of which is about Rs 81.5 crore. But this figure does not include a share award received by Tim Cook in 2011, the value of which is close to £66.4 million (INR equivalent= Rs 572.58 crore).
Ahrendts manages real estate development, strategy and operations of Apple’s online store, physical stores and contact centers. The total emoluments she received from Apple Inc. exceeded that of CEO Tim Cook when the value of stock ($20 million), performance pay ($3.1 million) and other compensation ($88,000) is added to her salary of $1 million.
While Tim Cook’s salary was a little over $3 million, his emoluments over and above the salary were much less than that of Angela Ahrendts. Hence, Cook’s total take-home pay was less than Ahrendts’s.
Take a look at the screenshot extracted from Apple Inc.’s Proxy Statement 2018 that gives details of salaries paid to its top employees:
Other than Angela Ahrendts and Tim Cook, other well-paid executives of the company are Luca Maestri, Johny Srouji, Dan Riccio and Bruce Sewell. Go to page number 41 of the report here to take a look at the details of salaries paid to top six employees of Apple Inc.
The detailed comparison of salaries of Apple Inc.’s top execs for 2014 can be seen in the screenshot of Proxy Statement 2017 given below:
As can also be seen in the screenshot above, it is interesting to note that Ahrendts has fetched more money that Cook ever since 2014, when she joined the company after quitting Burberry, a luxury fashion brand as director and CEO.