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Sunday, 12 May 2013

Minimizing tax reaps rich rewards for CFOs

FIVE of the 10 best-paid finance chiefs last year were working in the technology industry, as executives at companies from Apple Inc to Google Inc were handsomely rewarded for increasing profit, amassing cash and minimizing taxes.


Apple’s chief financial officer, Peter Oppenheimer, was the one who earned the most in fiscal 2012 – a US$68.6 million package that dwarfed the US$4.17 million awarded to Time Cook, the US company’s chief executive officer, according to data compiled by Bloomberg News.


Oracle Corp CFO Safra Catz came in second at US$51.7 million, making her the highest-paid female leader, while Patrick Pichette at Google was in third place with US$38.7 million.


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