While Cook's total pay has increased for the last two years, it still pales against the $378 million in cash and stock grants he was awarded when he took the CEO job in 2011. Apple reported the compensation figures in advance of its annual shareholder meeting on March 10. The company also announced that board member Millard "Mickey" Drexler, will retire when his term expires at that meeting. Drexler, 70, is CEO of J. Crew and former CEO of the Gap retail chain. Apple said a replacement has not been nominated. Apple shares closed Thursday at $112.40, up 2.6 percent for the day and more than 40 percent in the past year. With a stock market value of $659 billion, Apple is the most valuable company in the world.