Cook Steps Down as Apple CEO, Receives $47 Million Compensation Package
Apple's Tim Cook has transitioned into his new role as executive chair, taking home a $47 million compensation package. The remuneration includes a base salary of $2 million and a $45 million stock award, with half contingent upon meeting performance targets. This aligns closely with the pay for John Ternus, who takes over as CEO, with a base salary of $3 million and a $55 million stock award that places greater emphasis on performance metrics.
Cook's total compensation for 2025 exceeded $74 million, positioning him among billionaires with an estimated net worth of approximately $3 billion. Under his leadership, Apple's stock has surged 2,200%, elevating the company's market value to about $4.7 trillion from its $350 billion valuation in 2011.
Ternus is a long-standing Apple employee recognized for his work in engineering, overseeing the development of numerous successful products including iPhones that significantly contribute to Apple's revenue.