Apple’s Tim Cook receives $47 million package as executive chair

Apple Inc. has announced a remuneration package for its newly appointed executive chair, Tim Cook, that approaches the value of the award set for his successor as chief executive. Cook, who stepped down as CEO on Tuesday to be succeeded by John Ternus, will receive a total of $47 million (£35 million). The package comprises a $2 million base salary and $45 million in shares, with half of the share allocation tied to the achievement of performance targets and the remaining half vesting over a four‑year period.

The compensation plan mirrors the nearly $58 million award earmarked for Ternus, reflecting Apple’s approach to aligning executive incentives with long‑term corporate performance. Apple, a $4.7 trillion‑market‑cap technology giant, has historically structured its executive pay to reward both short‑term results and sustained shareholder value. The new arrangement underscores the company’s commitment to maintaining continuity and stability during the leadership transition.

In summary, Cook’s $47 million package places him just below the $58 million award for Ternus, illustrating Apple’s consistent strategy of high‑value, performance‑linked executive compensation. The move signals the company’s confidence in its leadership succession plan while reinforcing its focus on delivering long‑term value to shareholders.