Apple gives chief operating officer $5M bonus

The Seattle-Apple Inc chief officer gat a $ 5 billion bonus for his outstanding performance for running the company while CEO Steve jobs was on leave.

Apple says in a regular filling on Friday that Timothy cook,49, will receive 75,000.

The jobs 55 limits its salary to $1 per year, Cook got highest paid executive in the year 2009, he got $800,400 salary: $800,00 a non-stock incentive compensation: its about $40,900 in company matches for his retirement account, life insurance premiums and cash unused vacation days.

The CEO holds a share of 13,741 of Apple’s stock and 500,000 the additional restricted stock options that’s have yet vested, the January’s filling with exchange and securities commission.

When a pancreatic cancer survivor went on a leave, Cook took the company’s job from January to June 2009.

Again Cook got a opportunity to lead Apple for second time. He joined Apple in the year 1998, and ran the Cupertino, Calif-based company for two, months in 2004 while Jobs recovered from surgery of pancreatic cancer. He got promoted to chief operation officer in 2005.

The solving of problems by Cook helped Apple with many inventory management ideas. The key to Apple was a mass of $25 billion in cash and even grow in short term investments. Many people say Cook as Job’s Logical Successor.

The rumors about Jobs health for months could clearly send Apple’s stock soaring and sinking as investors would  worry and Apple would be loose its Vision.

When Cook took up  his direction in 2009 the products were updated Laptops with lower entry –level prices and a faster iPhone which has many longed-for features. Apple sold over million of new iPhone 3GS during first three days in a market.

All investors had confident in Cooks ability. Apple’s shares went uup to 67 % close at $142.44 on Friday before Jobs went to work  last June . the stock has another 59% to close on Friday at $226.60