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, accompanied by a compensation package totaling approximately $47 million. This package includes a $2 million base salary along with $45 million in shares, with half of the stock award contingent upon meeting performance targets. The remaining shares are set to vest over a four-year period.
John Ternus, who has been a key figure at Apple and previously led the hardware engineering division, has succeeded Cook as CEO. Ternus will receive a $3 million base salary and a stock award valued at $55 million. A significant portion of Ternus’s compensation is tied to performance, underscoring the company’s focus on results-driven leadership.
During Cook’s tenure as CEO, which saw his compensation exceed $74 million in 2025, Apple’s market value experienced remarkable growth, ultimately reaching approximately $4.7 trillion. This period was marked by significant achievements and expansion, positioning the company as a dominant force in the global market.
As executive chair, Cook will now concentrate on spearheading Apple’s external affairs. His responsibilities will include managing the company’s relationships with governments and policymakers, as well as strengthening ties with crucial international markets. This strategic focus aims to ensure Apple’s continued influence and presence on the global stage.
Meanwhile, Ternus is set to lead Apple’s product strategy and operations as CEO, guiding the company into its next phase of innovation and development. His extensive experience within Apple positions him well to drive the company’s ongoing commitment to cutting-edge technology and market leadership.