Ternus Takes the Helm at Apple with Lucrative Compensation Package
Apple has disclosed the compensation package for its new CEO, John Ternus. As of September 1, his annual salary is $3 million, but the bulk of his compensation comes in the form of Apple stock tied to company performance.
The total target compensation for the 2027 fiscal year is approximately $58 million, with only $3 million being a fixed salary. This means that Ternus stands to gain significantly from Apple's performance over the next few years.
In comparison, outgoing CEO Tim Cook will receive a stock package with a target value of $45 million in 2027, which is less than half of Ternus's total compensation. Cook's fixed annual salary has also been reduced from $3 million to $2 million as part of the transition.
The new leadership structure at Apple sees Ternus taking on the role of CEO, while Cook moves to executive chairman of the board. This change is effective as of September 1, and it's clear that Apple is placing a significant amount of faith in Ternus's ability to lead the company forward.