Ex-Apple CEO Tim Cook is now an Apple Executive Chairman as John Ternus has taken over as CEO mere days before the launch of the iPhone 18 Pro models and the foldable iPhone Ultra. However, as the company sets new pay packages for both individuals, Cook’s pay package insinuates that he will remain a lot more involved with Apple than previously expected.
Tim Cook gets a $47 million pay package
Cook was reportedly obsessed with seeing Apple dominate the emerging AR glasses market. | Image by Wired
A combination of salaries and stock units — which will likely go up in price and make for an even bigger number eventually — total a whopping $47 million yearly pay package for Tim Cook. New Apple CEO John Ternus, on the other hand, will get a similarly structured pay package worth $58 million.
Where do you think Apple is headed under John Ternus?
An unprecedented amount of money
According to industry insider Mark Gurman, a $47 million pay package is unprecedented, double that of the highest-earning chairmen of other public companies. Gurman reckons that this might be because Apple actually wants Cook to remain a lot more involved with the company than outsiders might have been expecting.
Based on a quick search, Cook’s $47 million pay package as chairman is basically unprecedented and double the highest chairman earners for public companies. It may speak to how involved Cook will actually be, as I alluded to the other day. This is high-end CEO compensation. https://t.co/ByXGSs66H6
Apple likely wants Tim Cook to stay deeply involved with the company. | Image by Wired
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As Executive Chairman, Tim Cook might manage a lot of the behind-the-scenes operations over at Apple, especially the difficult task of negotiating with whichever administration is currently in power.
CEO John Ternus will assume the role that Cook had up til now and be the face of the company. Ternus already has the exciting job of announcing the foldable iPhone — likely named the iPhone Ultra — this month, alongside the iPhone 18 Pro and the iPhone 18 Pro Max.
Cook might be in the news every now and then, perhaps visiting another country or being spotted at the White House, but it is unlikely that he will ever be present at another Apple event again.
One can hope, though
John Ternus will now be the face of Apple. | Image by Apple
Regardless, I would like it if Cook did occasionally show up at future Apple events. With the years of experience that he has under his belt, I can understand why Apple would want him to continue leading negotiations behind the scenes.
I’m sure Ternus will do an excellent job as well, but with how I’m so used to seeing Cook at events, I’ll keep my fingers crossed for a future cameo.
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Abdullah loves smartphones, Virtual Reality, and audio gear. Though he covers a wide range of news his favorite is always when he gets to talk about the newest VR venture or when Apple sets the industry ablaze with another phenomenal release.
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