Apple Sets $58 Million Compensation Target for New CEO John Turners

Apple's new CEO John Turners has set a compensation target of $58 million for his first year in office. This is according to a disclosure submitted by Apple to the U.S. Securities and Exchange Commission on January 1st, which also details the remuneration of former CEO Tim Cook.

Cook will receive around $47 million as he takes on the role of Executive Chairman, with an annual salary of $2 million and a target stock compensation for fiscal year 2027 set at $45 million. The total target compensation for Cook is approximately $47 million.

The compensation structure for Turners links his long-term performance to Apple's stock price, with 75% of his stock compensation dependent on how well the company performs compared to the S&P 500 companies. The remaining 25% will be paid sequentially if he remains in office for a certain period of time.