Apple CEO Tim Cook saw his 2019 pay decline 26% from what he raked in for 2018. But when you factor in his free Apple TV+ subscription, it likely all evens out.
Kidding aside, Cook’s still-serious executive compensation dropped by a bit more than $4 million year over year, due to a smaller amount accounted for under the non-equity incentive plan heading. Cook’s all-in tally was $11.56 million for this past year. The chief executive officer’s base salary of $3 million remained unchanged.
Cook wasn’t the only Apple executive to see their pay drop from 2018. Luca Maestri, chief financial officer, saw his pay decline 1.6% to $25.2 million, while COO Jeff Williams dropped a nearly identical amount to also take home $25.2 million last year.
Cook’s 2020 did get off to a better start, however. He bagged former HBO CEO Richard Plepler with a five-year exclusive production deal. Plepler’s Eden Productions will make not only TV shows, but also documentaries and feature films, with the added benefit of aligning himself with one of HBO parent AT&T’s new streaming rivals.
Apple TV+ launched last November, and the company will report its first subscriber count for the streaming service when it releases its first earnings of the new year later this month or early in February.