Tim Cook Ends 15-Year Apple CEO Run, John Ternus Gets $58 Million Target Pay

Tim Cook ended his 15-year run as Apple CEO on September 1 and became executive chairman, while John Ternus was named the new CEO, according to Jiemian News. Cook said in an internal email that handing the company’s helm to Ternus made him feel very reassured. Jiemian News reported that Cook’s total pre-tax compensation over his 15 full fiscal years as CEO came to about $2.397 billion, including about $2.221 billion in stock awards and about $176 million in salary, cash bonuses and other pay. The report said Apple’s SEC filings show Ternus has a target total compensation of $58 million for fiscal 2027, including a $3 million base salary, $55 million in equity awards, and a $2.5 million prorated restricted stock grant for the 2026 fiscal-year transition period. Of the equity award, 75% is performance-based stock tied to Apple’s total shareholder return versus the S&P 500, and 25% is time-based stock. The report said Cook’s annual pay peaked at $378 million in fiscal 2011, while his fiscal 2025 total compensation was $74.2948 million, down 0.4% from the prior year. It also said Apple’s market value rose from about $350 billion when Cook became CEO in 2011 to more than $5 trillion before his departure, and that his base salary will fall to $2 million as executive chairman, with his 2027 equity award cut to $45 million.