Apple CEO, Tim Cook takes 15% pay cut for missing sales target

Apple CEO, Tim Cook takes 15% pay cut for missing sales target

iPhone maker, Apple is cutting CEO, Tim Cook's pay by 15% citing the company's failure to meet its performance goals for both sales and profits. This is because iPhone sales last year caused Apple to suffer its first annual revenue decline in 15 years.

Now Apple's board is holding its CEO and other leaders accountable for the stumbles.