In a significant transition at Apple, Tim Cook has stepped down from his role as chief executive to take on the position of executive chair. As part of this new role, Cook has been granted a compensation package valued at approximately $47 million. This package includes a base salary of $2 million, complemented by $45 million worth of shares. Notably, half of these shares are contingent upon the achievement of certain performance targets, while the rest are set to vest over the next four years.
John Ternus, previously head of hardware engineering and a longtime executive at Apple, has succeeded Cook as the company’s CEO. Ternus is set to receive a $3 million base salary, along with a $55 million stock award. A significant portion of his compensation is also tied to performance, underscoring the company’s focus on results-driven leadership.
During Cook’s tenure as CEO, Apple experienced remarkable growth, with its market value soaring to approximately $4.7 trillion. In 2025, his compensation exceeded $74 million, reflecting the company’s significant achievements under his leadership. As executive chair, Cook will now concentrate on external affairs, particularly Apple’s interactions with governments, policymakers, and important international markets.
With his new responsibilities, Ternus is tasked with steering Apple’s product strategy and operations as the company’s CEO. His leadership will play a crucial role in maintaining the momentum Apple has built over the years, as well as driving innovation and growth in the competitive technology landscape.
