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Former Vice President Al Gore will be departing from Apple’s board of directors after a 21-year run due to the company’s mandatory retirement age, the tech company said today.

James Bell, who joined the board in 2015, will also be leaving the board, with aerospace executive Wanda Austin in line to become a director.

Board elections are set for February 28 at the company’s annual shareholder meeting.

In a proxy statement filed with the SEC, Apple disclosed the shareholder meeting date and also detailed the compensation packages of top executives. CEO Tim Cook made $63.2 million in 2023, down 36% from $99.4 million in 2022.

Three other members of the top exec team – CFO Luca Maestri, General Counsel Kate Adams and COO Jeff Williams – took home $27 million in 2023, while Retail SVP Deirdre O’Brien was a shade behind them at $26.9 million.

In the cases of Gore and Bell, Apple noted that it has “a longstanding...

New Delhi, April 20 (Ians) Apple CEO Tim Cook on Thursday inaugurated the company’s second flagship store in the Capital, while greeting the first wave of customers.

The Apple own-branded retail store at Select CityWalk mall in Saket, South Delhi, was jam-packed with fans and customers, as a delighted Cook welcomed customers.

The Apple store will offer personalised support and unique experiences for customers to discover the various aspects of the technology.

“We’re thrilled to bring the best of Apple to our customers in Delhi with the opening of our second store in India, Apple Saket,” said Deirdre O’Brien, Apple’s senior vice president of Retail.

“Our incredible team members look forward to connecting with the local community and helping them find new ways to pursue their passions and unleash their creativity through our amazing products and services,” she added.

Cook on Wednesday met Prime Minister Narendra Modi and...

New Delhi, April 19 (Ians) Apple CEO Tim Cook on Wednesday visited Lodhi Art District and National Crafts Museum here, amid opening of the company’s retail stores in India.

“Delhi’s Lodhi Art District is a remarkable public space,” Cook shared in a tweet.

Mesmerised by the wall art, he also hailed the “amazing artists for capturing Indian life so powerfully”.

He also thanked one of the artists, Dattaraj Naik, for showing him how mural designs are made on iPad.

Intrigued by the National Crafts Museum & Hastkala Academy, he wrote: “I could’ve spent the whole day”.

“From ancient and vibrant textiles to impossibly intricate wood carvings, it displayed India’s deep and deeply beautiful culture of craft”.

On Tuesday, Apple opened its first flagship store in India (Mumbai) in a bid to woo hundreds of millions of potential users in coming years.

Cook also visited Mumbai’s Indian School of Design & Innovation.

New Delhi, April 19 (Ians) After receiving huge crowds at the Mumbai retail store, Apple on Wednesday previewed its second physical store in the country, at Select CityWalk mall in New Delhi.

Delhi’s first Apple Store, to be inaugurated by the company’s CEO Tim Cook on Thursday, will offer personalised support and unique experiences for customers to discover the technology.

“We’re thrilled to bring the best of Apple to our customers in Delhi with the opening of our second store in India, Apple Saket,” said Deirdre O’Brien, Apple’s senior vice president of Retail.

“Our incredible team members look forward to connecting with the local community and helping them find new ways to pursue their passions and unleash their creativity through our amazing products and services,” she added.

The store has more than 70 highly skilled retail team members who come from a 18 states in and collectively speak more than 15 languages.

Mumbai, April 18 (Ians) An ‘excited’ Apple CEO Tim Cook on Tuesday greeted a huge crowd of people and first customers amid desi drum beats as he opened the company’s first branded retail store in the country.

Cook came out from the Mumbai retail store and took selfies with the first Apple buyers who came in big numbers.

He welcomed customers at Apple Bkc, located at Mumbai’s bustling Bandra Kurla Complex (Bkc) financial, arts, and entertainment district, at the Jio World Drive Mall.

The new Apple flagship retail stores in Mumbai, followed by one in New Delhi and backed by aggressive sales initiatives, will fuel Apple’s growth in the year ahead.

“Apple Bkc is a reflection of Mumbai’s vibrant culture and brings together the best of Apple in a beautiful, welcoming space for connection and community,” said Deirdre O’Brien, Apple’s senior vice president of Retail.

Apple...

Mumbai, April 17 (Ians) As it completes 25 years in India, Apple on Monday previewed its first own-branded retail store here that will serve as a dynamic space for customers. Next on the anvil is the second Apple retail store opening in New Delhi this week.

Apple CEO Tim Cook said that the company is excited to build on its long-standing history in India, as it gears up to mark a major expansion with the opening of its first retail stores in the country.

“India has such a beautiful culture and an incredible energy, and we’re excited to build on our long-standing history — supporting our customers, investing in local communities, and working together to build a better future with innovations that serve humanity,” said Cook who will inaugurate the retail stores in the country, a first for the tech giant which has doubled down on its India growth plans.

Located at...

Mumbai, April 17 (Ians) Apple on Monday previewed its first own-branded retail store here that will serve as a dynamic space for customers.

Located at Mumbai’s bustling Bandra Kurla Complex (Bkc) financial, arts, and entertainment district, Apple Bkc — to be thrown open for public on Tuesday — will help customers explore company products and services, enjoy exceptional service, and learn how to get more out of their devices through free Today at Apple sessions.

“Apple Bkc is a reflection of Mumbai’s vibrant culture and brings together the best of Apple in a beautiful, welcoming space for connection and community,” said Deirdre O’Brien, Apple’s senior vice president of Retail.

Apple Bkc will offer a special Today at Apple series, “Mumbai Rising,” running from Tuesday (April 18) through the summer.

Bringing visitors, local artists, and creatives together, these free sessions featuring Apple products and services will offer hands-on activities that celebrate the local community and culture.

Apple CEO Tim Cook came close to 100 million in total compensation for the second straight year, taking home 99.4 million in fiscal 2022, according to a proxy statement filed with the SEC.

The filing notes that Apple’s compensation committee plans to slash the top exec’s pay by more than 40 compared with the target amount for last year in the wake of “feedback” from displeased investors. His target amount for fiscal 2023 is 49 million.

“Taking into consideration Apple’s comparative size, scope, and performance, the Compensation Committee also intends to position Mr. Cook’s annual target compensation between the 80th and 90th percentiles relative to our primary peer group for future years,” the filing notes. The sizable cut in pay was determined after the committee “balanced shareholder feedback, Apple’s exceptional performance, and a recommendation from Mr. Cook to adjust his compensation in light of the feedback received.”

Similar to 2021, when Cook made 98.7 million,...

San Francisco, May 26 (Ians) As Apple retail store employees move forward to form a union over pay parity and other issues, the tech giant’s vice president of people and retail, Deirdre O’Brien, is reportedly trying to dissuade them from joining a union. According to an internal video accessed by The Verge, O’Brien is explicitly […]...

Tim Cook, who has steered Apple through the challenges of Covid to a $3 trillion market value, took home $98.7 million in total compensation in 2021.

The figure, a more than six-fold increase from Cook’s 2020 pay of $14.8 million, was disclosed in an SEC filing Thursday afternoon.

Of last year’s total, $82.3 million of the CEO’s compensation came in the form of a stock award. His base salary was $3 million and he got another $12 million via a non-equity bonus.

Apple reached the $3 trillion market value threshold a few days ago, but a dip in its stock price in the opening week of 2022 has seen its value fall to about $2.8 trillion. Its shares closed today at $172, down almost 2%.

Compared with the media business, a near-$100 million annual payday for an executive in the technology sector is relatively unusual. In the upper echelon of tech, significant wealth has been accumulated by figures like Elon Musk,...

Tim Cook made nearly $15 million in 2020. His $14.8 million haul was 28% better than the $11.6 he made in 2019.

Cook’s annual salary remained $3 million per year. His increases in non-equity incentive plan compensation and catch-all category “All Other Compensation” led to the increase.

In non-equity incentive plan compensation, Cook’s take jumped from about $7.7 million in 2019 to $10.7 million in 2020. The “all other” change was a relatively nonmaterial few hundred-thousand bucks.

Cook is actually the lowest paid of the top execs at Apple, which is not new. CFO Luca Maestri, COO Jeff Williams and SVPs Kate Adams and Deirdre O’Brien all made north of $26 million in 2020.

Your iPhone 12 Pro Max upgrade at work, ladies and gentlemen.

Don’t feel badly for Cook. Much of his fortune is just tied up in Apple stock. Along with Arthur Levinson and Al Gore, Cook is one of the largest individual shareholders in Apple.

Apple’s net...

Apple CEO Tim Cook saw his annual compensation fall 26% to $11.56 million for 2019, the tech giant reported Friday, in a year the company launched its foray into streaming with Apple TV+ and its valuation surpassed $1 trillion.

According to an SEC proxy filing this afternoon, Cook’s salary remained unchanged for a second year in a row at $3 million, with the biggest change year-over-year coming from a $4.3 million dip in Non-Equity Incentive Plan Compensation. All other major executive officers — Svp and CFO Luca Maestri, Svp and General Counsel and Secretary Kate Adams, and COO Jeff Williams — saw slight year-over-year dips in overall compensation to around $25 million each beyond their $1 million base salaries, mostly via stock awards.

Svp Retail + People Deirdre O’Brien received a total of $19.16M after she replaced the exiting Svp Retail Angela Ahrendts in April. Ahrendts received total compensation of $22.28M most coming from stock awards.

Apple said Cook’s...