Apple · Donald Trump · China · The Guardian Technology
Tim Cook handed $47m package for new role as executive chair of Apple
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Tim 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.
Key facts
- Cook, who handed over to John Ternus on Tuesday, will be paid a base salary of $2m and $45m worth of shares
- Ternus will receive a base salary of $3m and a $55m share award, with the latter more weighted to performance
- His predecessor, the Apple co-founder Steve Jobs, was paid a symbolic $1 a year but was worth $7bn when he died, including a sizeable shareholding in Disney he acquired after selling the Pixar
- Tim 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
Summary
Cook, who handed over to John Ternus on Tuesday, will be paid a base salary of $2m and $45m worth of shares. Ternus will receive a base salary of $3m and a $55m share award, with the latter more weighted to performance. His predecessor, the Apple co-founder Steve Jobs, was paid a symbolic $1 a year but was worth $7bn when he died, including a sizeable shareholding in Disney he acquired after selling the Pixar animation studio to the entertainment conglomerate. Cook took over from Jobs in 2011 having impressed as an operations specialist.