Tim Cook receives $47m pay deal as Apple executive chair, nearing successor's compensation
Quick Look
- Tim Cook will receive a $47 million compensation package as Apple's executive chair, comprising a $2 million base salary and $45 million in shares, with half tied to performance and half paid over four years.
- This follows his succession by John Ternus, who will earn a $3 million base salary and $55 million in shares, more heavily weighted to performance.
- Cook's 2025 CEO compensation exceeded $74 million.
AI-generated summary
Why It Matters
Tim Cook succeeded Steve Jobs as Apple CEO in 2011 and has overseen a 2,200% stock increase, growing Apple's valuation to approximately $4.7 trillion. He is known for his operations expertise and supply chain leadership.
Tim Cook has received a $47m (£35m) pay deal as Apple’s executive chair, a remuneration package that nears the level set for his successor as chief executive.
Cook, who handed over to John Ternus on Tuesday, will be paid a base salary of $2m and $45m worth of shares. Half of the share award will be based on performance targets being met, while the remaining half will be paid out over four years.
Ternus will receive a base salary of $3m and a $55m share award, with the latter more weighted to performance. Cook’s total compensation as CEO for 2025 exceeded $74m.
Cook took over from the late Steve Jobs in 2011 with a reputation as an operations specialist. The stock has risen 2,200% since he took charge, with Apple now valued at about $4.7tn.
He built the tech company’s sophisticated supply chain and is succeeded by a 51-year-old engineer and longstanding Apple employee, who built products as senior vice-president of hardware engineering.
Ternus’s role meant he ran the engineering teams behind Apple’s entire product lineup, including the iPhones that generate most of the company’s revenue. Analysts are not only anticipating new products but also further progress on integrating AI into Apple hardware.
Ternus’s first big public moment at Apple will be at its annual iPhone event on 9 September, where a foldable handset is expected to be revealed.
Cook’s new mandate includes engaging with policymakers around the world and will involve maintaining the company’s relationship with Donald Trump. In a final memo to employees on Monday, he focused on Apple’s products.
“Few people understand what it takes to build products that change the world the way John does,” he said.
What to Watch
AI outlook — possibilities, not facts
Apple will unveil a foldable iPhone at its annual September 9 event.
Likely · Within weeks
Tim Cook will engage with global policymakers to maintain Apple's relationship with Donald Trump.
Likely · Within months
Open Questions
- What specific performance targets are tied to half of Tim Cook's and John Ternus's share awards?
- How will Tim Cook's engagement with global policymakers specifically address Apple's relationship with Donald Trump?
- What are the expected features and market impact of the anticipated foldable iPhone to be unveiled on September 9?
