For fiscal 2027, Ternus will receive a compensation package worth about $58 million and Cook's compensation as executive chairman will pay around $47 million. | Business News

John Ternus takes over Apple as CEO while Tim Cook stays on, in a transition resembling Jeff Bezos’ handoff to Andy Jassy.

Tim Cook is stepping down as Apple CEO on 1 September after over a decade, with John Ternus, the senior VP of Hardware Engineering, set to take over.

Cook will move into the role of executive chairman, while Ternus will join Apple’s board the same day. Cook has played a central role in expanding the company’s business and…