Tim Cook, previously the chief executive of Apple, has transitioned to the role of executive chair, a move accompanied by a compensation package valued at approximately $47 million. This package is comprised of a $2 million base salary along with $45 million in shares. Notably, half of the stock award is contingent upon performance targets, while the other half is set to vest over a four-year period.
Cook’s decision to step down from the CEO position paved the way for John Ternus to ascend to the role. Ternus, who has been an integral part of Apple and formerly led the hardware engineering division, is set to earn a $3 million base salary. His compensation also includes a $55 million stock award, with a significant portion of it tied to performance achievements, reflecting a substantial commitment to maintaining the company’s trajectory.
During Cook’s tenure as CEO, his annual earnings surpassed $74 million in 2025, a period marked by a remarkable expansion in Apple’s market valuation, which soared to around $4.7 trillion. In his new capacity as executive chair, Cook will primarily concentrate on external relations, managing Apple’s interactions with governments, policymakers, and its crucial international markets.
As the new CEO, Ternus will be steering Apple’s product strategy and overseeing its operations, ensuring that the company continues its innovative legacy. His extensive experience and leadership within Apple are expected to play a pivotal role in guiding the company through its next phase of growth and development.