Tim Cook Takes $47 Million Apple Chair Package as John Ternus Gets $58 Million CEO Deal
Updated
Updated · The Guardian · Sep 2
Tim Cook Takes $47 Million Apple Chair Package as John Ternus Gets $58 Million CEO Deal
3 articles · Updated · The Guardian · Sep 2
Summary
$47 million will go to Tim Cook in his new role as Apple executive chair, including a $2 million base salary and $45 million in shares after he handed the CEO job to John Ternus on Tuesday.
Half of Cook’s stock award depends on performance targets, with the rest vesting over four years; Ternus’s package is larger and more performance-weighted, combining a $3 million salary with a $55 million share award.
Cook leaves the chief executive post after 14 years in which Apple stock rose about 2,200% and the company’s market value reached roughly $4.7 trillion.
Ternus, 51, now takes over after leading hardware engineering across Apple’s product lineup, and his first major test comes at the 9 September iPhone event where a foldable handset is expected.
Cook’s chairmanship will center on product oversight and government relations, including maintaining Apple’s ties with policymakers and Donald Trump as investors watch for faster AI integration into Apple devices.