Tim Cook handed $47m package for new role as executive chair of Apple

The Guardian · Axios · first seen 01.09.2026 · updated 03.09.2026

Tim Cook has stepped down as CEO of Apple to become executive chairman with a $47 million remuneration package, while longtime hardware engineering executive John Ternus has formally succeeded him as CEO.

Tim Cook receives a $47m pay package as Apple's executive chair.
John Ternus formally takes over as CEO of Apple.
Tim Cook stepped down as CEO of Apple on August 31 and became executive chairman.
John Ternus succeeded Tim Cook as CEO of Apple on September 1.

Sources

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