Tim Cook is stepping back — here’s what his $47 million deal tells us about Apple’s plan

Tim Cook may have handed over the keys to Apple, but his new pay package makes one thing clear: he is not walking away from the company he led for 15 years.

Cook, who stepped down as Apple’s chief executive this week and handed the role to longtime Apple executive John Ternus, will remain at the company as executive chair with a compensation package worth up to $47 million for fiscal 2027.

Apple disclosed in a regulatory filing that Cook will receive a base salary of $2 million, , down from the $3 million he earned as CEO, along with an annual equity award targeted at $45 million.