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Financial Times
Tim Cook handed $47mn pay deal as Apple’s executive chair
Apple has initiated a new compensation structure for Tim Cook, who will receive approximately $47 million in salary and stock as he shifts to the role of executive chair. While his pay reflects a 20% cut compared to his previous compensation, it underscores his continued significant presence in company decisions alongside incoming CEO John Ternus, whose own salary and equity targets have been adjusted as well. This transition is notable as it highlights the dynamics of leadership at one of the world's largest tech companies and Cook's pivotal role, especially in international policy engagements.
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Published 2 Sept 2026, 06:40 UTC3 min read
Visit original article ↗Lead image — Financial Times
Summary
TL;DR
- Tim Cook's new pay package totals $47 million.
- John Ternus takes over as CEO with a $3 million salary.
- Cook's pay represents a 20% decrease from 2025.
- Ternus expressed excitement about future Apple products.
- Apple's stock increased by 2.5% following the announcement.
Interesting facts
- Cook's role as executive chair is a newly created position.
- This is only the second CEO transition at Apple this century.
- Apple’s shares experienced a significant uptick following the news.