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It pays to be the leader of Apple.
The company's CEO, Tim Cook, was recently given a bonus of $750 million worth of Apple stock, marking his 10th anniversary as CEO. The bonus was revealed Thursday in a regulatory filing. He promptly cashed out the 5 million shares, which were given based on both performance and time with the company.
The bonus plan was put in place after Cook had become CEO in 2011, shortly before the death of company co-founder Steve Jobs.
Since Cook took over the company, Apple's value has reached an estimated $2.4 trillion, and its share price has risen 1,200%, according to BBC. Tim Cook, who is estimated to be worth $1.4 billion, still owns 3.2 million shares of the company.
The regulatory findings also show Cook donated 70,000 shares, worth $10 million, to charity. Before joining Apple in 1998, he worked for IBM and Compaq. (VOA/RN)
Keywords: Apple, CEO, Bonus plan, Tim Cook,
Ashwini Vaishnaw may not be a household name but he is an emerging star of the Modi government.
Vaishnaw, who has made a straight entry into the Union Cabinet without any stint as Minister of State, is a former IAS officer holding degrees from IIT Kanpur and Wharton Business School, and a BJP Rajya Sabha member from Odisha since 2019.
In addition, during the oath-taking ceremony at Rashtrapati Bhavan, Vaishnaw was quite high in the pecking order, which might indicate his seniority in the Cabinet and among the new Ministers.
An engineer, CEO, IAS officer, entrepreneur, and finally a politician, he also did a stint in the PMO when Atal Bihari Vajpayee was the Prime Minister.
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Vaishnaw served as a Collector in Odisha's Balasore and Cuttack districts. While a Collector in Balasore, the National Human Rights Commission placed on record its appreciation of the sincerity, dedication, and commitment displayed by Vaishnaw in organizing and executing relief and rehabilitation work in his district.
Indian cyclone 05B that hit Orissa region, in India, in late October 1999. Wikimedia Commons
In 1999, Odisha was hit by a super cyclone that killed thousands of people. Before the super cyclone hit, Vaishnaw logged into a US Navy website to track its path. He tracked the cyclone every hour and sent a report to the Chief Secretary at regular intervals, which became a major source of information for the Odisha government about the cyclone. This information helped government take the necessary steps which saved many lives.
He worked in Odisha till 2003, when he was appointed as Deputy Secretary in the office of then Prime Minister Vajpayee.
ALSO READ: Is Modi Era The End Of Congress?
After his brief stint in the PMO where he contributed to creating the public-private-partnership framework in infrastructure projects, Vaishnaw was appointed as Vajpayee's Private Secretary after the BJP-led NDA lost the election in 2004.
In 2006, he became Deputy Chairman of the Mormugao Port Trust, where he worked for the next 2 years. On completing his MBA in the US, Vaishnaw came back to India, quit the IAS in 2010, and joined GE Transportation as Managing Director. Then he joined Siemens as the Vice President, Locomotives & Head, Urban Infrastructure Strategy.
In 2012, he quit the corporate sector and set up Three Tee Auto Logistics Private Ltd and Vee Gee Auto Components Private Ltd, both automotive components manufacturing units in Gujarat. (IANS/KB)
Alistair Nicholson has stepped down from his post of chief executive officer of the Australian Cricketers’ Association (ACA). He has been in the role since 2014 when he replaced Paul Marsh.
Nicholson’s six years at the ACA saw him deal with several significant melbet issues during a tumultuous time in the game, with the death of Phil Hughes, holding the playing group together for two months following the expiry of the last collective bargaining agreement, and the fallout from the Cape Town Sandpaper Gate controversy.
“I’ve been humbled to represent our player group and I’m very proud of what we have been able to achieve in my time at the ACA,” said Nicholson in a statement.
“I have had to deal with unprecedented issues in the game but always tried to maintain principles of fairness and equity, representing the players as we worked to advance the interests of the game at all times,” he added.
He will quit his position by the end of this year, with the ACA board commencing the procedure of recruiting the next chief executive.
“Under Alistair’s leadership we’ve become much more professional and developed our capability to provide a much-expanded service offering for the benefit of all of our members,” Greg Dyer, ACA Chairman said.
“We’re now positioned to participate strongly in the game’s future as an enormously respected contributor at all levels of Australian cricket,” he added.
ACA Board Members Alyssa Healy and Pat Cummins also spoke of Nicholson’s contribution on behalf of the current playing group.
“Alistair was a major driver in the some of the great strides that female players have made over the last few years,” said Healy.
“Al is trusted by the players. We knew he would always be tough but balanced when representing us and that our stance would be based on good principles,” said Cummins. (IANS)
Around 77 per cent business organisations have witnessed a drop in their revenue as a result of the ongoing COVID-19 crisis, according to a recent global survey.
As per a joint survey by 720 Transform of Dubai, Prophecy FZLLC-Middle East and India-based Insights3D, around 7 per cent firms in India and the Middle East have registered an upward revenue growth, while about 16 per cent of the companies remained unaffected.
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Around 282 executives, including CEOs and MDs from across industry segments were interviewed for the survey.
Out of the negatively impacted companies which recorded fall in revenue, 30 per cent companies logged an over 50 per cent drop while another 30 per cent firms recorded 30-50 per cent decline.
The report said that around 30 per cent of the companies surveyed will need to undertake drastic measures such as higher levels of rationalisation, sale or merger.
Commenting on the report, Raja Marur of Prophecy FZLLC said: “Our belief that a new normal is being envisaged has been validated by the survey. Further, the impact to organizations varies by scale and level of global integration of their supply chains.”
Most leaders foresee a new normal in terms of remote working and decentralization, coupled with process automations and an increased reliance on artificial intelligence and analytics, the survey showed. However, these changes are likely to pose challenges in governance structures as also in communication lines and objective performance management.
Businesses see challenges with regards to demand, liquidity and availability of finance with MSMEs being the hardest hit amongst all, the survey found. (IANS)