Apple Execs Among Highest Paid in U.S.
Four out of the five best paid executives in the United States are employed by Apple.
Bob Mansfield, Bruce Sewell, Jeff Williams and Peter Oppenheimer are cashing some large checks in Cupertino these days, according to the latest industry data available.
“It’s a retention strategy to keep the key executives who were present in the Steve Jobs era,” explains Greg Sterling, an analyst at Opus Research. “They want to be sure the actual talents that they bring to the company are retained, and also from a perception standpoint to retain confidence in the leadership.”
Pay disclosures reveal that Apple’s Mansfield secured $85.5 million, almost entirely in stock, last year. Mansfield’s base salary was $805,400, - same as Oppenheimer, Sewell and Williams. But their pay jumped after receiving 150,000 in restricted stock units following the death of Steve Jobs in October 2011.
These super-fat paydays are all part of the common corporate mindset on top talent retention.
“What the board is doing here is saying we’re going to give you millions of dollars worth of reasons to stick with Apple, see us through this transition and to make sure we continue to be successful without Steve Jobs,” Allan McCall, a Stanford University researcher studying executive compensation, tells Bloomberg.