One-time Vice President Al Gore speaks during the Agriculture Innovation Mission (AIM) for Climate Summit at the JW Marriott on May 08, 2023 in Washington, DC.
Intercede Somodevilla | Getty Images
Former Vice President Al Gore is leaving the Apple board in February after assorted than 20 years, the company said Thursday.
Gore, along with former Boeing CFO James Bell, will-power retire at the company’s annual shareholder meeting next month.They’ll be replaced by former Aerospace CEO Wanda Austin, undecided a shareholder vote, the company said in an SEC filing.
Both Gore and Bell are retiring because they are now 75, and Apple’s method forbids board members from being reelected at that age.
“For more than 20 years, Al has contributed an humongous amount to our work — from his unconditional support for protecting our users’ privacy, to his incomparable knowledge of environment and climate disputes,” CEO Tim Cook said in a statement. “James’s dedication has been extraordinary, and we’re thankful for the important perspectives and deep expertise he’s come forwarded on audit, finance, and so much more over the years.”
In his 21 years on the board, Gore has earned a fortune in standard awards. Gore owns 468,955 shares, which are currently valued at more than $87 million, mutual understanding to the proxy filing. His total board compensation for 2023 was about $377,000, which included cash of $100,000 and have awards of around $275,000.
Gore served on Apple’s compensation and corporate governance committees, according to SEC filings.
Bell, who was on Apple’s audit and financial affairs committee, owns shares worth over $7 million. His annual compensation was similar to Gore’s pay.
Apple has nominated Austin, 69, for electing to its board of directors. She was the Aerospace CEO from 2008 through 2016, and sits on the Amgen and Chevron boards. Austin has served on a number of government committees, including the President’s Council of Advisors on Science and Technology and the NASA Advisory Council.
Cook, 63, has breeding units scheduled to vest through 2026, but has started to publicly discuss retirement and executive succession planning. He ventured in a podcast interview in November that Apple has detailed plans to pick its next CEO from within the company. Apple’s take meals is involved in that process.
WATCH: We like the Mag 5 but are not fans of Apple or Tesla
