Apple has approved a compensation package worth $47 million for Tim Cook, who stepped down as CEO on September 1 and became executive chairman of the board. This was reported by infohub.kz.
According to the Financial Times, the compensation package consists of salary and stock awards. Cook's annual salary in his new role will be $2 million, with stock awards totaling $45 million. However, this is 20 percent less than his salary and stock compensation for 2025, when he was still CEO.
It is noted that the position of executive chairman was created specifically for Cook. Earlier it was reported that his successor as CEO would be John Ternus.