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05-08-2013, 12:28 PM #1
Apple's Peter Oppenheimer Is The World's Top Paid CFO
Another Apple executive is making headlines in the business world today in response to his exorbitant compensation package.
Number crunchers and data collectors at Bloomberg figured out that Apple CFO Peter Oppenheimer is now the highest paid chief financial officer in the world.
Last year, Apple's finance boss was compensated to the tune of $69 million. Apple's stellar financial performance enabled to company to reward Oppenheimer handsomely for his part in the efforts.
Only $4.17 million was awarded to Apple Chief Executive Officer Tim Cook in 2012.
According to David Larcker, a professor of accounting at the Stanford Graduate School of Business in Stanford, California, CFOs play a critical role in large companies like Apple, Google, Microsoft and elsewhere.
“They’re a key part of the organization and they’re paid accordingly,” Larcker tells Bloomberg. “It would be very surprising if their performance evaluation wasn’t heavily weighted to minimizing corporate taxes. That’s their job.”
05-08-2013, 06:47 PM #2
Another hallmark of company stagnation: excessive CEO pay.
And no bother replying with that sad 'everyone does it' refrain. You can build a nice big web of how the F500 CEOs are all connected through the BoDs and how they all approve each others pay plans. Massive circlej3rk.