Apple Sets Financial Targets for New CEO John Ternus and Tim Cook
Apple has set financial targets for its new CEO John Ternus and Executive Chairman Tim Cook. The company aims to pay Ternus $58 million in fiscal 2027, with a base salary of $3 million per year and a stock award target of $55 million. Cook's compensation is expected to be around $47 million, with his base salary reduced to $2 million from $3 million as he transitions to executive chairman.
The equity structure for Ternus will have 75% tied to Apple's performance relative to the S&P 500 and 25% in time-based units. Cook's stock award target is $45 million, with half of it linked to Apple's standing against the S&P 500.
Cook has led the company for 15 years, pushing Apple into new product areas and boosting yearly revenue to nearly half a trillion dollars. During his tenure, Apple shares climbed over 2,200%, far ahead of the broader market.