Apple Hands Out $100K Raises To Three Execs

Photo: Cishore/Flickr

Apple chief operating officer Tim Cook, finance head Peter Oppenheimer, and Mac hardware senior vice president Bob Mansfield had their paychecks boosted, as well as their stock portfolios.

Cook, often mentioned as a possible replacement for Jobs, will earn $800,00 per year. Oppenheimer, Apple’s Chief financial officer, will make $700,000 per year, while hardware chief Mansfield will make $600,000.

Along with the fatter paychecks, the three executives received restricted stock grants. Cook received a grant for 200,000 shares of Apple, while Oppenheimer received 150,000 shares and 120,000 for Mansfield. Apple’s stock closed up two percent Wednesday at $91.01 per share.

While the global economic downturn has hit Apple’s hardware sales, the impact was made even more personal for Jobs, whose 5.5 million shares lost about half of their worth, according to the San Francisco Chronicle.

When he returned to head Apple in 1997, the stock was selling at $200 per share, making them worth more than $1 billion. However, after the turbulent 2009 stock market, Apple’s stock price fell to $91.01. The decline means Jobs’ stock holdings in Apple are worth half, or $500 million.

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