Apple chiefs eschew bonuses
Apple rewarded its senior non-executive employees with a bonus – despite the company falling short of targets – but board members received no gratuity for the year, the company reported Monday.
Apple also disclosed the salaries paid to its top executives in a report filed with the Securities and Exchange Commission (SEC). Apple CEO Steve Jobs took a $1 salary once again in 2002. Apple vice president (VP) for sales and operations Tim Cook earned $563,829, Senior VP software engineering Avie Tevanian received $492,212, chief financial officer Fred Anderson took home $657,038, and senior VP hardware John Rubinstein earned $452,588.
The company’s top 230 employees received a special recognition bonus worth 3 to 5 per cent of salary, despite the company missing its targets. This bonus applied to executives at director level or above, but not senior executives, including Jobs.