Tim Cook Receives $47m Package for Apple Executive Chair Role
· Technology · The Guardian
Tim Cook has received a $47m remuneration package as Apple's executive chair, comprising a $2m base salary and $45m in shares. Half of the share award is tied to performance targets, while the remaining half vests over four years. Cook handed over the chief executive role to John Ternus on Tuesday after leading the tech company since 2011. Ternus received a $3m base salary and a $55m performance-weighted share award. Under Cook's leadership, Apple's stock rose 2,200% and its valuation reached approximately $4.7tn. Cook's new mandate includes engaging with global policymakers and managing diplomatic ties with China.
Why it matters
This leadership transition sets a multi-billion-dollar compensation benchmark for Apple's top executives as the company prepares for upcoming product launches and hardware integration of artificial intelligence under Ternus.
Read the original report — The Guardian
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