AssetID: 55967350
Headline: UNCAPTIONED: Tim Cook Receives $47m Package For New Role As Apple Executive Chair
Caption: Tim Cook Receives $47m Package For New Role As Apple Executive Chair. Tim Cook has received a $47m (£35m) compensation package after stepping down as Apple's chief executive to become executive chair. Cook will receive a $2m base salary and $45m in shares, with half of the share award dependent on performance targets. His successor, John Ternus, will receive a $3m salary and $55m share award as Apple's new chief executive. Cook’s total compensation as CEO exceeded $74m in 2025, before he handed leadership of the company to Ternus on Tuesday. Cook became CEO after Steve Jobs in 2011, overseeing a roughly 2,200% rise in Apple's stock and helping take its valuation to about $4.7tn. Ternus, 51, previously served as senior vice-president of hardware engineering, overseeing teams responsible for Apple's entire product lineup. Ternus’s first major public appearance as CEO will be Apple's annual iPhone event on 9 September, where a foldable handset is expected to be unveiled. As executive chair, Cook will focus partly on relationships with global policymakers, including maintaining Apple's ties with President Donald Trump. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,Tim Cook,Apple,John Ternus,Steve Jobs,Donald Trump,executive chair,Apple CEO,iPhone,compensation,Apple shares
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