Tim Cook Offered Bob Mansfield $2 Million Monthly Salary To Stay At Apple



Since the death of Steve Jobs, many have wondered whether Apple’s core senior management team would stick around to continue Apple’s success. Most of Apple’s senior VPs are incredibly wealthy and extremely tired after launching Apple’s hugely successful products over the past decade.

For the most part, Tim Cook has been able to keep everyone on board. Retail VP Ron Johnson decided to leave before Steve’s death, but none of the important VPs have tried to call it quits other than Bob Mansfield who announced his retirement earlier this year. According to insiders, once Mansfield announced his retirements members of his engineering team complained about his replacement, and Tim Cook set out to get Mansfield back by offering an exorbitant salary.

“According to three people familiar with the sequence of events, several senior engineers on Mansfield’s team vociferously complained to Cook about reporting to his replacement, Dan Riccio, who they felt was unprepared for the magnitude of the role. In response, Cook approached Mansfield and offered him an exorbitant package of cash and stock worth around $2 million a month to stay on at Apple.”

On August 27th 2012, Apple announced that Mansfield will stay at Apple and continue to work as an adviser and help manage the hardware engineering team. After overseeing the expansion of the Mac lines and taking on engineering duties for the iPhone and iPad, Bob probably deserves a more relaxed position, but just imagine how much money they’d throw at Jony Ive if he threatened to retire and move back to England.


Source: Businessweek


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