Tim Cook becomes highest-paid CEO

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Tim Cook of Apple Inc. is reported as the highest-paid Chief Executive Officer in the US last year as compensation gained 2 per cent overall from 2010. Cook is said to receive about $378 million, which includes salary, perks and bonuses ($1.8 million) and a one-time stock award ($376.2 million), that extends over 10 years.

According to market report, Larry Ellison of Oracle Corp was second with $77.6 million, followed by J C Penney Co. (JCP)'s Ronald Johnson, at $53.3 million. Viacom Inc's Philippe Dauman, who was No. 1 in the survey last year, was fourth this year with $43.1 million, followed by Honeywell International Inc's David Cote, who received $35.3 million. Stephen Chazen of Occidental Petroleum Corp was paid $31.7 million and was sixth. Seventh through 10th, respectively, were Robert Iger, Walt Disney Co, $31.4 million; Clarence Cazalot Jr, Marathon Oil Corp, $29.9 million; Alan Mulally, Ford Motor Co, $29.5 million; and Rupert Murdoch, News Corp, $29.4 million.

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