Tim Cook scores $47 million pay deal to stay on as Apple's chairman
Tim Cook has transitioned from CEO to executive chair at Apple, securing a compensation package worth approximately $47 million annually. Meanwhile, incoming CEO John Ternus is set to receive a $58 million package for his first year in the role.
Why it matters
This leadership transition marks a significant shift for one of the world's most valuable companies, signaling continuity in strategy while highlighting executive compensation trends.
Tim Cook is Apple's executive chair and former CEO. Kevin Dietsch/Getty Images Tim Cook is poised to earn about $47 million in annual salary and stock awards as Apple's chairman. Cook stepped down as Apple's CEO this week after 15 years in the top job. John Ternus stands to earn $58 million in salary and stock awards in his first year as CEO. Tim Cook is no longer Apple's CEO, but he'll continue to collect a CEO-sized paycheck. This week, Cook handed Apple's reins to John Ternus after 15 years in charge, and took on the role of executive chair. Cook's new job pays a $2 million salary instead of $3 million, and comes with an annual equity award with a target value of $45 million for fiscal 2027, Apple said in a regulatory filing on Tuesday.
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