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Four Apple Execs Got A Big Raise When Scott Forstall Was Canned
Four Apple Execs Got A Big Raise When Scott Forstall Was Canned
Alyson ShontellFeb 28, 2013, 22:55 IST
Last year, Tim Cook fired long-time Apple executive and former mobile software chief, Scott Forstall.Forstall had led the Apple Maps team; it launched a disappointing product that was uncharacteristic of Apple, and Forstall paid the price.The hole Forstall left has been filled by four other executives, CFO Peter Oppenheimer, head of operations Jeff Williams, General Counsel Bruce Sewell and head of technology Bob Mansfield. The added territory came with a sizable raise for each.Wall Street Journal blogger Jessica Lessin scanned the company's proxy filing. She discovered each executive was given an additional $75,000 following Forstall's departure.The bump in pay was meant to "recognize the additional responsibilities assigned to the officers and to maintain internal equity,” according to the proxy."In disclosing compensation for four of its senior vice presidents, the company said that it increased each executive’s base salary to $875,000 from $800,000 following the October changes to its executive team that were designed to encourage “even more collaboration between the Company’s hardware, software, and services teams,” Lessin writes.
