Tim Cook, formerly Apple’s chief executive, has transitioned to the role of executive chair, a move accompanied by a compensation package valued at approximately $47 million. His new package includes a base salary of $2 million and $45 million in Apple stock. Notably, half of these shares are contingent upon meeting certain performance targets, with the remaining shares set to vest over the next four years.
In the leadership transition, Cook has passed the CEO baton to John Ternus, who previously served as Apple’s head of hardware engineering. Ternus is stepping into his new role with a $3 million base salary and a $55 million stock award, of which a significant portion is performance-based. This change marks a new chapter for Apple, as Ternus takes the helm to direct the company’s product strategy and day-to-day operations.
Under Cook’s leadership, Apple experienced significant growth, with its market valuation soaring to an estimated $4.7 trillion. As CEO, Cook’s earnings exceeded $74 million in 2025, reflecting his pivotal role in guiding the company through a period of substantial expansion. His new position will see him focusing on Apple’s external affairs, managing relationships with governments, policymakers, and maintaining connections with crucial international markets.
Ternus, with his extensive experience and long-standing tenure at Apple, is well-positioned to lead the company forward. His background in hardware engineering will be critical as he assumes responsibility for overseeing Apple’s product innovation and strategic direction. The transition is expected to maintain Apple’s momentum in the tech industry while leveraging Cook’s experience in a strategic advisory capacity.