Apple, the manufacturer of the iPhone, made significant changes at the beginning of September. Tim Cook, who had led the company as CEO for almost 15 years, handed over his duties to John Ternus. A new position, Executive Chairman, was created for Tim Cook.
According to media reports, Tim Cook's compensation package is now valued at $4.7 billion (equivalent to approximately 400 million rupees). This package includes a salary of $20 million and proposed stock worth $4.5 billion.
Information from the document filed with the SEC
In the document submitted to the U.S. Securities and Exchange Commission (SEC), the company indicated that the base salary of the current CEO was increased to $30 million. Furthermore, in the 2027 fiscal year, he may be granted a target annual stock amount of $5.5 billion, which depends on his performance. According to available data, Tim Cook's salary, while serving as CEO for 15 years, is presumed to have decreased by 40 percent.
Strengthening the Company During Tim's Leadership
During Tim's tenure as CEO, the company demonstrated economic stability. The company also strengthened relations with both the US and China and India. The company's production network relies heavily on China.
John Ternus becomes the new CEO of Apple
After Tim Cook stepped down as CEO, John Ternus took over the position. Ternus has 25 years of experience in hardware and played an important role in the development of Apple products. He was significantly involved in creating one of the company's thinnest devices—the iPhone Air.
Upon assuming the role of CEO, John Ternus will be responsible for the event scheduled for September 9th. As part of this event, the company will introduce its first foldable gadget—the iPhone Ultra Fold.