Tim Cook stepped down as Apple CEO at the end of August, after nearly 15 years leading the iPhone maker, and will receive a compensation package of $47 million as chairman of the Board of Directors, comprising $2 million in annual salary and $45 million in planned stock. This amount represents a 20% reduction in his compensation compared to 2025.
His successor, John Ternus, will receive a base salary of $3 million, higher than Cook's, in addition to a planned annual stock grant valued at $55 million in fiscal year 2027, provided performance criteria are met. This leadership change marks only the second transition in the CEO role at Apple in this century.
During the 15 years he led the American tech giant, Tim Cook established a close relationship with Washington and Beijing and became a globally recognized figure, helping the company valued at $4.75 trillion navigate the balance between being one of the largest US companies and heavily relying on production in China.
The chairman position was created specifically for Cook, who according to Apple will provide support in certain aspects of the company, including dialogue with policymakers around the world. Wall Street analysts interpreted the substantial salary package as confirmation that Cook would continue to act more like an executive than as an independent board member.
