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Apple CEO Tim Cook Sees Massive Pay Cut

Description:Tim Cook has finally made it to the top at Apple Inc, but in his first full year as CEO his pay package shrank about 99 percent. Cook, the successor to the late Steve Jobs, was awarded total compensation of $4.17 million (USD) in 2012, down from $378 million in 2011, Apple said in a federal filing on Thursday (December 27). The 2012 compensation package for Cook, who took over as chief executive in August 2011, also seemed a pittance compared with his 2010 pay, which was 14 times higher, when (1:34)

Source: IBTimesTV

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