Apple's Tim Cook in line for $378m pay award

Tim Cook, who succeeded Steve Jobs as Apple chief executive in August, is in line for almost $378m (£244.6m) in total compensation for 2011, including $376.2m in share awards.

Apple said his salary would rise to $1.4m in 2012 from $900,000.

Steve Jobs traditionally took an annual salary of $1.

Of the $376m in stock options going to Mr Cook, half will vest in 2016 and the other half in 2021, tying him to the company for another ten years.

At current market value, the shares are worth more than $422m.