Tim Cook said that the proposed EU tech rules threaten the security and privacy of iPhones. He partially agrees with the rules, but expressed concern as legislation may allow apps to be downloaded by users from outside of the Apple store. This could ruin the security parameters that have been set by Apple, thereby putting users’ security at risk. Lawmaker Andreas Schwab said he wanted to strengthen the legislation and narrow the scope to just big companies.
Apple CEO Tim Cook, in a sign of re-opening of offices globally, has asked staff to join back office three days a week ( Mon, Tue, Thu) from Sept. Few of the staff may have to work four days a week. Apple employees, in a year, get two weeks to WFH to spend time with loved ones. Microsoft, in April, delayed the reopening of its offices till September after it had announced to start operating from Redmond, Washington-based headquarters in a phased manner.
Apple’s hardware engineering chief, Dan Riccio, will step down to oversee a new project. He will report to CEO Tim Cook and will be replaced by John Ternus, who will join the executive team as senior VP of hardware engineering. Riccio joined Apple over 20 years ago as VP product design and was named VP of hardware engineering in 2010. Apple has been focusing on newer projects including self-driving car tech, targeting 2024 to produce a vehicle.
Apple CEO Tim Cook’s salary jumped 28% this year. Cook’s 2020 pay, excluding vested shares, was $14.8 mn, including the cash bonus and a $3 mn salary that didn’t change from the prior year. In addition, Cook had a total of $281.9 mn in restricted stock that vested during the year. Cook took home $125 mn as his pay package in 2019, nearly 8 % lower than $136 mn which he received in total compensation in 2018.
USA politicians, in a historic Anti-trust hearing, questioned CEOs – Sundar Pichai (Google), Tim Cook (Apple), Jeff Bezos (Amazon) and Mark Zuckerberg (Facebook) on matters of privacy, killing competition, controlling the market, and more. The four of them were also asked whether they thought that the Chinese govt steals tech from the US firms. The hearing concluded that they have monopoly power, need to be broken up, regulated, and held accountable.