Ternus Takes Helm as Apple's New CEO with $58 Million Compensation Package

Apple has disclosed new compensation packages for CEO John Ternus and executive chairman Tim Cook in a US Securities and Exchange Commission (SEC) filing on September 2, 2026. Ternus's target compensation stands at approximately $58 million for the fiscal year, with a base salary of $3 million and stock awards targeted at $55 million. Cook will earn around $47 million in his new role as executive chairman, which includes a $2 million annual salary.

The pay packages reflect Apple's strategy of rewarding its top leadership with substantial stock-based compensation tied to long-term performance. Ternus takes over at a pivotal moment for the company, overseeing the development of the M-series chips that have become central to Apple's product lineup. His promotion signals continuity in Apple's hardware-first strategy, particularly as the company navigates the transition to more AI-integrated devices.

The leadership transition will unfold over the coming quarters as Ternus sets his strategic priorities. The new CEO inherits a company with a strong services revenue stream and a loyal global customer base, but faces challenges including regulatory scrutiny and slowing hardware upgrade cycles. His first major test will come with the next iPhone launch, where he must balance innovation with profitability.