In a significant shift within Apple’s leadership, Tim Cook has transitioned from his role as chief executive to take on the position of executive chair, with a compensation package valued at approximately $47 million. This package comprises a $2 million base salary and $45 million in shares, with half of the stock award contingent upon meeting performance targets, while the other half will vest over a span of four years.
As Cook steps aside from the CEO role, he passes the baton to John Ternus, a veteran Apple executive who previously served as the head of hardware engineering. Ternus is set to receive a $3 million base salary accompanied by a $55 million stock award, a significant portion of which is also tied to performance criteria. His new responsibilities as CEO will involve steering Apple’s product strategy and operations.
During Cook’s tenure as CEO, which saw his compensation exceed $74 million in 2025, Apple experienced a remarkable surge in market value, reaching an estimated $4.7 trillion. His leadership helped solidify Apple’s status as one of the most valuable companies in the world.
In his new role as executive chair, Cook will concentrate on managing Apple’s external affairs, which include cultivating relationships with governments and policymakers, as well as strengthening the company’s presence in key international markets. This strategic focus is expected to leverage Cook’s extensive experience and global connections.