Yesterday, Mr. Hesse sent a letter to the company detailing that he will forgo $3.25 million over the next two years. In a startling move that made me gasp for air, he also is going to return nearly $350k received last year. The adjustments are related to the accounting of the iPhone. (For specifics, read the article in today's Kansas City Star.)
Congratulations, Mr. Hesse. I applaud you for listening to your shareholders and for doing the right thing for your employees as it relates to their bonuses.