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

Tim Cook has transitioned to the role of executive chair at Apple, receiving a $47 million pay package that includes a $2 million base salary and $45 million in shares. This compensation is comparable to the award for his successor as CEO, John Ternus, who will earn a $3 million base salary and $55 million in shares. Cook's new responsibilities will involve engaging with policymakers globally. Ternus, a 51-year-old engineer, takes over as CEO after leading Apple's hardware engineering teams. Under Cook's leadership since 2011, Apple's stock has grown significantly, and the company is now valued at approximately $4.7 trillion.

John Ternus has officially succeeded Tim Cook as Apple's CEO, taking the helm on Tuesday after Cook's 15-year tenure. Ternus, previously senior vice president of hardware engineering, joined Apple in 2001 and has overseen product lines like the iPad and AirPods. His appointment is seen as a strategic focus on hardware innovation, potentially integrating AI more deeply into devices. Ternus's tenure begins with an upcoming product launch event on September 9, expected to feature a new iPhone and a foldable device, alongside an updated Siri. Apple faces challenges including competition in generative AI, supply chain strains, and geopolitical trade tensions.

John Ternus has become Apple's new CEO, succeeding Tim Cook after his 15-year leadership. During Cook's tenure, Apple's value reached $4.6 trillion, largely driven by the iPhone's success. This leadership change occurs at a critical juncture for the company, as artificial intelligence is causing significant industry disruption. Apple has faced challenges in its AI development, experiencing a slow start in delivering promised AI-powered features. While the company has recently announced AI advancements, including Siri upgrades, it is emphasizing privacy and practical applications as it works to compete with rivals in the AI space.

John Ternus has become Apple's new CEO, succeeding Tim Cook after his 15-year tenure. This leadership change occurs as the tech industry faces significant disruption from artificial intelligence, an area where Apple has reportedly had a challenging start. Ternus, formerly VP of Hardware Engineering, will need to address AI competitiveness, supply chain issues, and relationships with political figures, including President Donald Trump. Cook, who cultivated ties with Trump during his leadership, will transition to executive chairman and is expected to help maintain that relationship. Ternus has a history of working on key Apple products like the Apple Watch and AirPods and will lead an upcoming iPhone launch.

John Ternus is taking over as Apple's chief executive on Tuesday, succeeding Tim Cook after a 15-year tenure. Ternus, previously senior vice president of hardware engineering, inherits a company that leads the smartphone market but lags rivals in artificial intelligence. His key challenges include navigating Apple's reliance on China and political pressure from the White House, a role Cook excelled at. While Ternus is expected to focus on hardware innovation, the company's upcoming September 9 iPhone event will be an early indicator of his leadership. Cook will transition to executive chairman, assisting with global policy engagement.