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Wed, Jan 03, 2018

Apple Requires CEO Tim Cook To Fly Aboard Private Aircraft

Company Policy Was Implemented In 2017

Apple CEO Tim Cook only flies aboard private aircraft for all personal and business travel, and while it's probably preferable, it's not a decision they left to him make.

It's official company policy, implemented last year. According to a document filed with the SEC on Wednesday, Apple implemented the policy in 2017 "in the interests of security and efficiency based on our global profile and the highly visible nature of Mr. Cook's role as CEO."

CNN reports that in FY2017, which ended in September, Apple paid $93,109 for Cook's personal travel on private aircraft. The amount is added to his taxable income for the year.

Not that it will make much difference. His total compensation package for 2017 was $12.8 million, which was a 50 percent increase over 2016, according to the SEC filing.

Requiring the use of private aircraft is not an uncommon corporate practice. Both Facebook CEO Mark Zuckerberg and Disney CEO Bob Iger travel primarily on private aircraft for all their personal travel, according to each company's SEC filings.

(Image from file)

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