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Matt Miller Says GoPro Inc (GPRO), Apple Inc. (AAPL) Justified In Giving CEOs Top Pay

The chief executives of GoPro Inc (NASDAQ:GPRO) and Apple Inc. (NASDAQ:AAPL), Nick Woodman and Tim Cook, both deserve the massive paychecks they are taking home, says Matt Miller in a discussion with Betty Liu and Carol Massar on Bloomberg’s In The Loop.

GoPro Inc (NASDAQ:GPRO) and Apple Inc. (NASDAQ:AAPL), according to the trio, have both given large compensation packages to their CEOs in 2014.

According to Liu, Apple Inc. (NASDAQ:AAPL) chief executive officer had the best paper performance rating of any CEO with $65 million in compensation last year, according to the Bloomberg Pay Index.

GoPro Inc (NASDAQ:GPRO)’s Nick Woodman also had a great year after being awarded 4.5 million restricted stock units valued at $284 million at the end of 2014.

“[Nick Woodman] is adorable,” Miller jokes, adding, “but you know what, he deserves that [pay]. Tim Cook is underpaid at $65 million. Look what he has given Apple shareholders. He has created so much wealth.”

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Massar notes, however, that in the case of GoPro Inc (NASDAQ:GPRO)’s CEO, the industry is yet to see what he will return to shareholders as the stock is down about 30% this year. Time will tell, she says, adding that it’s a different case for Apple Inc. (NASDAQ:AAPL) CEO Tim Cook who has proven himself.

Miller points out, nonetheless, that Woodman made GoPro Inc (NASDAQ:GPRO). Massar counters saying that the question is whether another CEO would have done just as well if not better.

Liu says, however, that competitors have tried to oust GoPro in its top spot in the action camera business. She notes that others including licensees of the Polariod brand from Polaroid Corporation have tried to launch their own competitors to the GoPro cameras but the company remains at the top.

Miller says that even though everyone is getting into the media business, GoPro is in the league of companies like Red Bull who are great at content.

Meanwhile, the trio also discussed Volkswagen and its boardroom woes as the company’s supervisory board is backing CEO Martin Winterkorn who has been under attack from the company’s chairman, Ferdinand Piech.

Apple Inc. (NASDAQ:AAPL) shareholders includes Carl Icahn’s Icahn Capital LP which owned about 52.76 million shares in the company by the end of 2014.

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