Apple to Pay Tim Cook $47 Million as Executive Chair

Apple has disclosed that Tim Cook will be paid $47 million as the company's executive chair, according to the Financial Times. The figure comes alongside a $58 million package for John Ternus, who is taking over as chief executive. The two numbers together signal that Apple wants Cook to remain deeply involved even after handing over day-to-day control. Executive chair roles at large companies are sometimes ceremonial, but a $47 million pay package suggests Apple's board expects Cook to keep an active hand in strategy, succession oversight, or key relationships such as suppliers and governments. What isn't yet clear is the exact split of duties between Cook and Ternus, or how long this dual-leadership arrangement is meant to last. Apple has not detailed specific performance metrics tied to either pay package.