Tim Cook is transitioning from his role as CEO of Apple to take on the position of executive chair, a move accompanied by a compensation package totaling approximately $47 million. This package is divided into a $2 million base salary and $45 million in shares, with half of the stock award contingent upon meeting performance targets, and the rest set to vest over four years.
With Cook stepping aside as CEO, John Ternus, previously the head of hardware engineering at Apple, will assume the leadership position. Ternus will receive a compensation package including a $3 million base salary and $55 million in stock awards, with a significant portion of his compensation tied to performance achievements. As the new CEO, Ternus is tasked with steering Apple’s product strategy and overseeing its operations.
During Cook’s tenure as CEO, Apple experienced substantial growth, with its market value soaring to approximately $4.7 trillion. In 2025 alone, Cook’s compensation exceeded $74 million, reflecting his impact on the company’s expansion and success. As he transitions to the role of executive chair, Cook will concentrate on Apple’s external affairs, particularly its relationships with governments, policymakers, and key international markets.
The leadership change marks a significant shift for Apple, as Cook hands over the reins to Ternus, who has been a key figure within the company for many years. Ternus’s experience and previous role in hardware engineering position him well to lead Apple’s innovative product development and sustain the company’s growth trajectory.