It's been revealed just how large of a bonus Apple COO Timothy D Cook received while filling in for Steve Jobs as acting Apple chief during Job's medical leave last year. According to published reports, a cash bonus totaling $5 million was bestowed upon Cook for what Apple executives recognized as an "outstanding performance" in Jobs' absence.
According to a statement from Apple:
A one-time discretionary bonus of 5,000,000 and 75,000 restricted stock units in recognition of his outstanding performance in assuming the day-to-day operations of the company for the period in fiscal 2009 during which Jobs was on medical leave of absence.
Widely believed to be a potential replacement for Steve Jobs one day in the future (should Jobs leave or be sidelined for medical purposes again) Timothy Cook is a well-liked man in Cupertino who is said to command a great deal of respect and admiration from his colleagues. Last year's fill-in duty by Cook was not the first time Apple's COO covered for the CEO. Six years ago Cook similarly took the big boy's chair as acting CEO for a month while Jobs underwent surgery to remove a malignant pancreas tumor.
Nonetheless, the bonus from Apple represents an enormous bump-up in compensation for Cook, who, in 2009, received an $800,400 salary with another $800,000 in "nonstock incentive compensation." That package came along with a small company match to his retirement account as well as life insurance premiums and "cash for unused vacation days."
Image via AP
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