Cook’s $47M chairman pay nearly rivals new Apple CEO’s package

Apple ↘ 0.80% has disclosed that former CEO Tim Cook will receive a target compensation package of approximately $47 million in his new role as executive chairman, a sum nearly on par with the pay awarded to his successor, John Ternus, and a clear signal that Cook intends to remain a central figure at the company he led for 15 years.

A Chairman's Pay That Rivals the CEO's

Cook, who stepped down as CEO on September 1 and handed the role to Ternus, will earn a $2 million base salary and a stock award with a target value of roughly $45 million for fiscal 2027, according to SEC filings disclosed on Ternus's first day. Ternus, meanwhile, will receive a $3 million salary and stock awards targeting $55 million, putting his total package at about $58 million. Ternus also received a one-time stock grant of $2.5 million for the partial 2026 fiscal year.gizmodo+3

Bloomberg's Mark Gurman, who reported the details in his Power On newsletter on Sunday, noted that Cook's package is unusually large for an executive chairman. For comparison, Apple's previous board chairman, Art Levinson, received less than $560,000 last year because he did not perform executive functions. Cook earned $74.3 million as CEO in fiscal 2025.iphoneincanada+2

Gurman also highlighted a scenario in which Cook's total pay could actually exceed Ternus's. Seventy-five percent of the stock Ternus is expected to receive is tied to Apple's performance against competitors, while only 50 percent of Cook's stock is structured that way. In a year where Apple's stock underperforms, Cook's package could end up worth more than the CEO's.gizmodo

Cook's Continuing Role

Cook has vacated the CEO office at Apple Park for Ternus and moved to a new workspace on campus, but the transition is designed to keep him closely involved. He is expected to manage Apple's relationships with the White House and Beijing — two areas where he has long served as the company's chief diplomat — and to help navigate ongoing supply chain challenges, particularly around memory chips.firstpost+2

In a message to employees, Cook said Apple would remain his top priority and indicated he intends to serve as chairman for the long term.digit+1

Ternus Takes the Stage

Ternus will face his first major public test on Wednesday, September 9, when he is expected to headline Apple's "Surprise and Shine" event and unveil the iPhone 18 Pro lineup alongside the company's first foldable iPhone, a product he reportedly oversaw personally. Eight days into the job, the event will offer an early measure of whether the new CEO can step out of Cook's considerable shadow — even as the pay figures suggest Apple is in no hurry to let that shadow fade.iphoneincanada+1