Cook Steps Down as Apple CEO with $47m Pay Package

Apple's Tim Cook has stepped down as CEO but remains closely tied to the company after accepting an executive chairman role. According to Apple's SEC filing, Cook will earn a $2 million salary and a $45 million equity award for fiscal 2027, totaling a $47 million package. This is nearly matching the $58 million compensation package of new CEO John Ternus, who took over on September 1 after 15 years under Cook.

Cook's arrangement echoes Warren Buffett's move at Berkshire Hathaway, where he handed the CEO role to Greg Abel but stayed on as chairman. Buffett credited Cook directly for Apple's significant returns, noting his $35 billion stake in the company grew to $185 billion in value before taxes, including dividends. Apple's stock climbed nearly 2,300% during Cook's tenure, closing at $317 before ticking up almost 3% to $325.

Cook built relationships with the Trump administration and Chinese officials that Apple leaned on through recent geopolitical friction, connections Ternus may still need as he settles in. The arrangement suggests Cook will remain a key figure at Apple despite stepping down as CEO, with his compensation package a testament to his continued influence.