Tim Cook handed $47m package for new role as executive chair of Apple
Pay and shares deal nearly matches $58m award to John Ternus, his successor as CEO at the $4.7tn tech company Business live – latest updates Tim Cook has received a $47m (£35m) pay deal as Apple’s executive chair, a remuneration package that nears the level set for his successor as chief executive.
Cook, who handed over to John Ternus on Tuesday, will be paid a base salary of $2m and $45m worth of shares .
Half of the share award will be based on performance targets being met, while the remaining half will be paid out over four years.
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5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on www.theguardian.com — the content belongs to The Guardian Australia - Technology.
