Apple sets pay targets at $73 million for John Ternus, $59 million for Tim Cook
The company made the disclosure in a filing with the US Securities and Exchange Commission on Sept 1.
On September 1, Apple disclosed the compensation packages for its new CEO, John Ternus, and outgoing CEO, Tim Cook. Ternus, who assumed the role after Cook's 15-year tenure, will receive a compensation package valued at approximately $58 million (S$73 million) for fiscal year 2027. This includes a $3 million annual base salary and a stock grant with a target value of $55 million in 2027.
Cook, 65, has received a $47 million (S$59 million) package for his role as executive chairman. Cook's salary will be reduced to $2 million annually as part of his new role, and his 2027 stock package target value will be $45 million. Ternus is expected to stay in his role as executive chairman for a long time.
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