Bloomberg Lists Apple Boss Tim Cook As 11th ‘Best-Value’ CEO
Bloomberg has published its ranking of the world’s best-performing CEOs, listing the company bosses that are doing the best for their companies globally.
Bloomberg looked at the pay-for-performance ratio of 100 CEOs at some of the largest companies around the world to see which companies are getting the best value from their CEO, and the results may surprise you. The company based its rankings on a comparison of pay against profits averaged over the past three years.
Apple CEO Tim Cook came in at 11th on the list, a position that many might have expected to be higher. Calculations of total pay factor in salary, bonuses, stock/options/incentives, retirement plans and miscellaneous payments. Cook’s total remuneration last year was just under $10.3M, against average Apple profits of $22 billion.
“Are chief executive officers worth their pay? Apple CEO Tim Cook’s $10 million in compensation isn’t chump change, but it’s a bargain when you compare that to the company’s massive average economic profit over the last three years,” reads Bloomberg’s report. “Other companies pay their CEOs much more, but seem to get a lot less for it. Bloomberg looked at the pay-for-performance ratio of 100 CEOs at some of the largest companies around the world to see which companies are getting the best value from their CEO.”
On the top of the list, due to his not taking any salary at all, was Fossil Group CEO Kosta Kartsotis. Other notables ahead of Cook in the list are Alphabet’s Larry Page, taking the #3 slot due to his nominal salary of just $1 a year; China Mobile’s Li Yue, whose salary was slashed to less than $100k after a government austerity drive; and Berkshire Hathaway’s Warren Buffett, whose salary has remained $470k for more than 25 years.