Wesley Hilliard
As Al Gore and James Bell reach the Apple Board of Directors retirement age of 75, Dr. Wanda Austin joins the board.
Apple's board of directors has been filled with some of the most prominent names in business and culture in recent history. As a rule of thumb, board members must retire at age 75, which has led to the latest departures.
Former Vice President Al Gore and former CFO and Corporate President of The Boeing Company James Bell are not eligible for re-election to Apple's board of directors in 2024. However, with their departure comes a new arrival in former president and CEO of The Aerospace Corporation Dr. Wanda Austin.
"Like Apple, I've always believed in the power of innovation to improve lives, support human potential, and shape a better future," said Dr. Austin. "I'm honored to join Apple's board of directors, and I look forward to being part of a company that's always creating new ways to empower people all over the world."
Dr. Austin is known for leading The Aerospace Corporation in dedication to supporting the U.S. space program and expanding opportunities for future exploration. She was the first woman and first African American to hold the position.
"We're deeply grateful to Al and James for their many years of service to Apple — their insights, energy, and values have made us a stronger company in so many ways," said Apple CEO Tim Cook. "For more than 20 years, Al has contributed an incredible amount to our work — from his unconditional support for protecting our users' privacy, to his incomparable knowledge of environment and climate issues. James's dedication has been extraordinary, and we're thankful for the important perspectives and deep expertise he's offered on audit, finance, and so much more over the years."
Al Gore has served on Apple's board since 2003, and James Bell since 2015.
Apple celebrates adding another great mind to its board. Dr. Austin's accomplishments extend beyond her tenure at The Aerospace Corporation, including acting as a leading advocate for STEM education.
She served on the board of Amgen and serves on the board of Chevron, where she is the lead independent director. She also served on the board of Virginia Galactic from 2019 until 2023.
Arthur D. Levinson still serves as the Chairman of the Board. Alex Gorsky, Andrea Jung, Monica Lozano, Ronald Sugar, and Susan Wagner remain on the board.
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36 Comments
Reading thru the fine print, this jumped out at me: * APPLE INC ( AAPL ) - CEO TIM COOK'S TOTAL 2023 COMPENSATION WAS $63.2 MILLION VERSUS. $99.4 MILLION in 2022. RATIO OF 2023 ANNUAL TOTAL COMPENSATION OF CEO TO ANNUAL TOTAL COMPENSATION OF MEDIAN EMPLOYEE WAS 672 TO 1.
Love TC and think he's a great CEO, but Holy Cow, that ratio is really embarrassing when you consider how hard Apple's C-Suite (many of whom make millions in salary every year, as you can see if you read through the annual report) is fighting collective bargaining efforts among store employees.
Moving away from political appointments to sector knowledge is an improvement. And yes, CEO salaries are obscene. Does anyone seriously believe Tim Apple wouldn’t do the CEO job if it was one fifth as much (or one tenth)? Their salaries are well past the point the actual amount matters. It is which CEO position it is that matters, and if it doesn’t, they shouldn’t have the job.
It’s amazing that Gore has been on the board since 2003! Joined the board when he was 55. It’s been a very quick 20 years and he experienced Apple’s growth rocket.
That was a good hire imo. Having a stereotypical CEO from another company, or a person whose job is “board member”, is too staid. With Gore, he brought some different perspectives.
Compensation is NOT salary. Compensation includes incentives (usually stock options) that are performance based. And I think few would argue that TC hasn't been an exceptional CEO at Apple consistently setting performance records each year. For accurate salary and compensation, as a long term shareholder, I'll read the 10K when it is released
Glad Gore is gone. What a reprehensible soul he is.