Tim Cook to executive chair with $47m package as Apple appoints John Ternus successor
Tim Cook will receive a $2m base salary plus $45m in Apple shares as executive chair, with half the stock award performance-based and vesting over four years. John Ternus, a veteran hardware engineer, becomes CEO successor with a $3m base and a $55m stock award weighted toward performance. Cook’s 2025 CEO pay exceeded $74m, reflecting Apple’s strong stock gains since 2011. Ternus will lead product development as Apple eyes AI integration and prepares for a September iPhone event, while Cook’s mandate includes global policymaker engagement and maintaining relationships with leaders, including Donald Trump.
