Apple announced the restructuring of the compensation for John Ternus and Tim Cook following the leadership transition at the company. John Ternus will assume the position of chief executive officer (CEO), replacing Tim Cook, who leaves the company's leadership after years at the helm.
The two executives will split an annual compensation of approximately 107.5 million dollars, equivalent to around 93 million euros. This amount includes both stock allocations and base salaries for both executives.
Apple is the second company with the largest market capitalization worldwide, which makes this leadership transition particularly significant for financial markets and the global technology industry.
With this change, the California-based company formalizes the passing of the torch in its executive leadership, simultaneously establishing the compensation package for the new CEO and the former one, who will remain in the company's structure.
