Apple cuts CEO Tim Cook's salary by ₹10cr on missing targets
Apple CEO Tim Cook's annual payout was reduced by 15% from $10.3 million (₹70 crore) in 2015 to $8.7 million (₹60 crore) in 2016 after the company failed to reach its 2016 targets. Fall in Apple’s revenue and operating profit was the main reason for reducing Cook's pay. Apple suffered its first annual revenue decline in 15 years in 2016.