50 million dollars bonus for Apple’s Chief Operations

Apple iPhones and developer of Tablet PCs iPad, gave Timothy Cook (50), operational director of the company, a stock bonus worth over 50 million dollars in last fiscal year ending September 25 2010 “for outstanding performance” during the period of 2009 who took the place of Steve Jobs, CEO, went on sick leave, according to British newspaper Financial Times. Jobs lead Apple missed the first half of 2009 when he underwent a liver transplant.

According to reports Apple, the company offers top executives’ awards every two years, Cook has received so far just reward for the period of 2009. Apple’s Chief Operating Officer received shares in two installments in March and September of last year.

The amount far exceeds the annual salary of $ 800,000 Cook. He also received a cash bonus of $ 5 million.

Apple is the most valuable IT company in the world with a market capitalization of 320 billion dollars. Steve Jobs, CEO, has a salary of $ 1 per year, the largest individual investor of the company with more than 10% of the shares.

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