Ternus Tapped: Apple's New CEO Takes the Reins with $58 Million Pay Package

John Ternus's appointment as Apple's new CEO comes with a hefty compensation package worth tens of millions of dollars. The $58 million pay package is a signal of the high stakes attached to succeeding Tim Cook, who stepped down after 15 years at the helm.

The structure of Ternus's compensation places significant emphasis on Apple's market performance. Seventy-five percent of his stock award will be tied to Apple's performance relative to the S&P 500, while the remaining 25 percent will consist of time-based restricted stock units that vest twice a year.

Ternus inherits a company with enormous financial resources and one of the most established consumer technology ecosystems in the world. He will have to navigate finance, regulation, supply chains, recruitment, and Apple's senior leadership structure while steering the company through an industry increasingly shaped by artificial intelligence.