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

Apple’s new executive chair, Tim Cook, will receive a compensation package that almost matches the $58 million award set for his successor, John Ternus, as CEO. Cook’s deal includes a $2 million base salary and $45 million in shares, with half contingent on meeting performance targets and the rest vesting over four years. The announcement follows Cook’s transition to chair after handing the CEO role to Ternus, underscoring the company’s emphasis on aligning executive rewards with long‑term performance.

Pay and shares deal nearly matches $58m award to John Ternus, his successor as CEO at the $4.7tn tech companyBusiness live – latest updatesTim Cook has received a $47m (£35m) pay deal as Apple’s executive chair, a remuneration package that nears the level set for his successor as chief executive.Cook, who handed over to John Ternus on Tuesday, will be paid a base salary of $2m and $45m worth of shares. Half of the share award will be based on performance targets being met, while the remaining half will be paid out over four years. Continue reading...