Key facts
- Tim Cook has received a $47 million pay package as Apple's executive chair.
- Cook's package includes a $2 million base salary and $45 million in shares, with half tied to performance.
- John Ternus, the new CEO, will receive a $3 million base salary and a $55 million share award.
- Cook's total compensation as CEO in 2025 exceeded $74 million.
- Cook will focus on policy and relationships with President Trump and China in his new role.
- Ternus, a 25-year Apple veteran, led hardware engineering for Apple's product lineup.
John Ternus has officially taken over as Apple CEO from Tim Cook, who transitions to the role of executive chair with a compensation package valued at $47 million. Ternus, a 25-year veteran of the company and former head of hardware engineering, will receive a base salary of $3 million and a $55 million share award, with a greater emphasis on performance targets.
Cook's remuneration includes a $2 million base salary and $45 million in shares, half of which are performance-based, to be paid out over four years. His total compensation as CEO in 2025 exceeded $74 million. Cook, who led Apple since 2011, oversaw a 2,200% stock increase and a valuation rise to approximately $4.7 trillion.
In his new capacity, Cook will focus on policy and maintaining relationships with President Trump and the Chinese government. Ternus, 51, is expected to lead Apple's product development, particularly in integrating artificial intelligence into its hardware, a key area where the company faces pressure to advance. Ternus's first major public appearance will be at Apple's September 9 iPhone event, where a foldable handset is anticipated.
Cook's final memo to employees highlighted Ternus's deep understanding of product creation, signaling a strategic focus on AI hardware innovation under the new leadership. Analysts suggest Cook's continued engagement in policy and global relations will be crucial for Apple's strategic navigation.