New post added at News Channel 365 - Apple boosted personal security for CEO Tim Cook in 2014Source: venturebeat - Friday, January 23, 2015 Apple spent $699,133 on personal security for chief executive Tim Cook in 2014, the first time the company has disclosed spending any such money to protect him. The expenditure was included in Apple’s latest proxy filing yesterday , which reported that Cook’s total compensation for the year was $9.2 million. The security spending fell under the category of “other compensation,” which for Cook rose to $774,176 in the fiscal year ending September 2014, up from $52,721 in 2013, and $17,274 in 2012. In a footnote to the “other” category, Apple simply says the category includes “security expenses in the amount of $699,133.” The company made no such disclosures in the past two years. The company includes — also for the first time — a brief explanation of the security measures in the proxy filing: “In addition, the Company generally does not provide perquisites to its officers that are not available to employees generally. Although the Company does not consider it to be a perquisite for his benefit, the Company provides home and personal security for Mr. Cook because his personal safety and security are of the utmost importance to the Company and its shareholders. The Company considers the security measures to be a reasonable and necessary expense for the benefit of the Company.” Of course, there’s no additional information on what led to the need for Cook’s security. And it’s possible such security measures were in place previously, buAll Related
Posted on: Sat, 24 Jan 2015 10:46:16 +0000
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