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

- URL: https://talkfuse.com/story/tim-cook-handed-47m-package-for-new-role-as-executive-chair-of-apple/
- Published: 2026-09-02T12:28:08+00:00
- Updated: 2026-09-02T12:43:29+00:00
- Original publisher: The Guardian (publisher lean: Left)
- Original article: https://www.theguardian.com/technology/2026/sep/02/tim-cook-47m-package-chair-apple
- Topics: Business, Companies, Markets, Software, Technology

## Key points

- Tim Cook gets $47m pay package as Apple's new executive chair
- John Ternus succeeds Cook as CEO with a $58m package
- Ternus debuts at Apple's 9 September iPhone event

## Summary

Tim Cook has been awarded a $47m (£35m) pay package for his new role as Apple's executive chair, following his handover of the chief executive role to John Ternus on Tuesday. The sum sits close to the $58m package granted to Ternus as his successor, reflecting both men's continued significance to the $4.7tn company as it navigates product development and its relationship with the Trump administration.

Cook's package comprises a $2m base salary plus $45m in shares, half tied to performance targets and the rest vesting over four years, a marked drop from the $74m he earned as CEO in 2025. Ternus, a 51-year-old engineer who previously led hardware engineering, receives a $3m salary and a $55m share award weighted more heavily towards performance. Cook, who took over from Steve Jobs in 2011 and oversaw a 2,200% rise in Apple's share price, will now focus on policymaker engagement, while Ternus faces his first major test at the iPhone launch event on 9 September, where a foldable handset is expected.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.