Tim Cook, the former CEO of Apple, has taken on a new role as the executive chairman of the company and will earn about $47 million a year. This includes a $2 million salary and an equity award valued at $45 million, which is partly based on how well Apple performs compared to other companies. Cook recently stepped down after being CEO for 15 years, during which he helped Apple grow significantly. His leadership saw Apple's stock price rise dramatically, benefiting many shareholders, including Warren Buffett, who praised Cook's contributions to the company. John Ternus has replaced Cook as CEO and will earn a $3 million salary along with stock awards worth $55 million in his first year. Ternus will also have performance-based rewards tied to Apple's success. Cook's continued high salary suggests he will still play an important role at Apple, especially as Ternus faces challenges like developing Apple's AI strategy and managing talent within the company.
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