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Tim Cook Steps Down as Apple CEO with $47m Pay Package
Apple said Ternus will get a $3 million salary and a $55 million stock award, while Cook shifts to executive chair after 15 years as CEO.
- On Tuesday, Apple transitioned leadership as John Ternus became CEO, succeeding Tim Cook, who assumed the newly created role of executive chair. The change marks only the second chief executive shift for the company this century.
- During his 15-year tenure, Cook transformed Apple into a $4.75 trillion tech giant, with the company's split-adjusted stock price rocketing nearly 2,300% from about $13 to $317 by the close of his final day.
- Cook's new package includes $47 million in salary and stock, while Apple disclosed Ternus will receive a $3 million salary with a $55 million target equity award. Arthur Levinson became lead independent director.
- Ternus will make his first public appearance as CEO next Wednesday at Apple's annual product launch event in Cupertino, while Cook will "assist with certain aspects of the company, including engaging with policymakers around the world."
- The structure mirrors Warren Buffett's transition at Berkshire Hathaway, where he remained as chairman. Ternus expressed excitement for "the incredible products already in the works," teasing a "huge" and "phenomenal" launch next week.
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Apple Executive Chairman Tim Cook, who stepped down as Apple's Chief Executive Officer (CEO), will receive a compensation package of $47 million (approximately KRW 64.4 billion) for fiscal year 2027 beginning in October. Apple announced this information on the 1st (local time). Cook receives stock compensation of 45 million dollars (about 61.7 billion won) for a basic salary of 2 million dollars (about 2.7 billion won), which is 1 million dollar…
With John Ternus at the forefront, Apple seeks to quintuple 2011 profits while maintaining control over AI and capex investment
·Bogota, Colombia
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Total News Sources10
Leaning Left3Leaning Right2Center0Last UpdatedBias Distribution60% Left
Bias Distribution
- 60% of the sources lean Left
60% Left
L 60%
R 40%
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