Tim Cook Stays on at Apple as Executive Chairman After Stepping Down as CEO

Tim Cook's departure as Apple CEO may have marked the end of an era, but it's not marking the end of his tenure at the Cupertino-based tech giant. According to a recent report by Bloomberg's Mark Gurman, Cook has transitioned into the role of executive chairman, while John Ternus takes over as the new CEO.

Under this new leadership structure, Cook is expected to remain closely involved with Apple, particularly in key areas such as the company's relationship with the US government and China. These are two regions where Cook has played a significant role for years.

Cook's continued involvement at Apple is also reflected in his new pay package, which includes a $2 million salary for 2027 and Apple shares worth around $45 million. This means his overall compensation could be around $47 million before any additional bonus.

Ternus, on the other hand, will receive a $3 million salary and a $55 million stock award. Cook's new package is unusually large for an executive chairman, indicating just how important Apple expects him to remain in this new role.