Apple CEO John Ternus's Pay Package Set At ₹551 Crore

Apple has set a compensation package worth roughly ₹551 crore for its new Chief Executive Officer, John Ternus. This package includes an annual base salary of $3 million and a stock grant with a target value of $55 million for fiscal 2027.

Ternus, who took over as CEO this week, will also receive a prorated restricted stock unit grant worth $2.5 million for the current fiscal year. The bulk of his equity award is tied to performance, with three-quarters of the stock grant vesting based on Apple's total shareholder return measured against other S&P 500 companies.

Outgoing CEO Tim Cook, who has moved into the newly created role of executive chairman, will receive a compensation package of approximately ₹446 crore. His annual salary will drop from $3 million to $2 million, and his fiscal 2027 stock package will carry a target value of $45 million. This reflects a pay cut from his previous CEO compensation, which stood at $74.3 million in fiscal 2025.

Ternus's pay structure is designed to incentivize performance, with a significant portion of his compensation tied to the company's stock performance. This approach is consistent with Apple's emphasis on delivering strong returns to shareholders.

As the new CEO, Ternus faces significant challenges, including a major management overhaul and the need to drive innovation and growth at the company. He is set to formally introduce himself to Apple's broader user base at a company event on September 9.

Ternus's background as senior vice president of hardware engineering has prepared him well for the CEO role. However, his exact compensation in that role has not been disclosed. According to Bloomberg, executives at that level typically receive around $25 million a year when salary, bonuses, and stock are combined.

The change in leadership at Apple marks a significant shift for the company, with Ternus bringing a new perspective and approach to the CEO role. As the company looks to the future, Ternus's compensation package reflects the board's confidence in his ability to drive growth and deliver strong returns to shareholders.

The new compensation packages for Ternus and Cook reflect the company's commitment to attracting and retaining top talent. With Ternus at the helm, Apple is poised to continue its tradition of innovation and excellence, and his compensation package is designed to incentivize him to deliver strong results.

In the context of the global tech industry, Apple's leadership transition is significant. The company's ability to adapt and evolve in a rapidly changing landscape will be crucial to its continued success. With Ternus's experience and expertise, Apple is well-positioned to navigate the challenges and opportunities ahead.

Overall, the new compensation packages for Ternus and Cook reflect the company's focus on delivering strong returns to shareholders and driving growth and innovation. As Apple looks to the future, Ternus's leadership will be critical to the company's continued success.

The significance of this development for Apple and its stakeholders cannot be overstated. The company's leadership transition marks a new era for the tech giant, and Ternus's compensation package reflects the board's confidence in his ability to drive growth and deliver strong results. As the company moves forward, Ternus's leadership will be closely watched by investors, analysts, and customers around the world.

In conclusion, Apple's new CEO John Ternus is set to receive a compensation package worth ₹551 crore, while outgoing CEO Tim Cook will receive ₹446 crore. The company's leadership transition marks a significant shift, and Ternus's compensation package reflects the board's confidence in his ability to drive growth and deliver strong returns to shareholders.

This development is significant for Mumbai residents who are interested in the tech industry and follow Apple's products and services. The company's leadership transition and compensation packages for its top executives are closely watched by investors and analysts, and this news may have implications for the company's future growth and innovation.