Apple cuts CEO Cook's pay as iPhone sales hit globally
"According to a regulatory filing on Friday, Apple said its annual sales of $215.6 billion were 3.7 per cent below its target of $223.6 billion, and its operating income of $60 billion was 0.5 per cent short of the $60.3 billion target," The Wall Street Journal reported.
Cook received $8.75 million in total compensation for 2016 -- down from $10.28 million in 2015 -- which the company said declined for the first time since he assumed office in 2011. Photo: Youtube