Tim Cook, the former chief executive of Apple, has transitioned to the role of executive chair, a move accompanied by a compensation package totaling approximately $47 million. This package is comprised of a $2 million base salary and $45 million in Apple shares. Notably, half of the stock award is contingent upon meeting specific performance targets, while the remaining shares will vest over a period of four years.
This leadership change sees John Ternus stepping into the CEO position. Ternus, who has been a prominent figure within Apple as the head of hardware engineering, will earn a base salary of $3 million and a stock award valued at $55 million. A significant portion of Ternus’s compensation is also linked to performance, underscoring the company’s focus on incentivizing results-driven leadership.
During Cook’s tenure as CEO, which concluded in 2025, he earned more than $74 million in compensation. Under his leadership, Apple experienced extraordinary growth in its market value, which soared to approximately $4.7 trillion. These achievements have cemented Cook’s legacy as a pivotal figure in Apple’s expansive success.
In his new role as executive chair, Cook will concentrate on managing Apple’s external affairs. This includes fostering and maintaining relationships with governments and policymakers, as well as strengthening ties with crucial international markets. This strategic focus is indicative of Apple’s commitment to expanding its global influence and navigating complex regulatory landscapes.
Meanwhile, Ternus, now at the helm as CEO, assumes the responsibility for steering Apple’s product strategy and overseeing its operations. His extensive experience within the company positions him well to guide Apple through its next phase of innovation and growth. As the company continues to evolve, the leadership transition underscores a balance between maintaining continuity and embracing new opportunities.