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Samsung CEO Paycheck $1.55 Million More Than Tim Cook’s
Samsung Electronics’ head of mobile business was rewarded well for shipping more than one third of the global smartphone shipments in 2013: J.K. Shin received a $5.8 million compensation package last year, much more than his US counterpart, Tim Cook, Apple’s CEO, reports Reuters.
Shin received a base salary of 1.7 billion won, and 1.6 billion won in incentives and performance bonuses. Shin has led Samsung’s mobile business since 2009, and he fostered the launch of the high-end Galaxy handsets, and took over the crown as the world’s largest smartphone vendor from Apple.
His salary, however, isn’t the biggest of all Samsung CEOs. Samsung’s other CEO, the leader of the component business, Kwon Oh-hyun, has received even more (6.77 billion won), while the head of the consumer electronics business received a compensation package of 5.09 billion won.
By contrast, Apple’s CEO, Tim Cook received $4.25 million last year, up from the $4.17 million he received a year earlier.
The Samsung data was reported by the company itself, as new regulation requires companies to include such data in their business report filings.
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In case anyone is wondering, 1,000,000,000 won is around $939,055 USD
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The article doesn’t mention that Tim Cook received one million shares of Apple stock as part of his compensation package. He is allowed to sell half of that some time in 2016 and the other half some time in 2021.
At today’s share price, those shares are worth $536 million. Not too shabby.