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    "headline": "John Ternus Named New Apple CEO, Tim Cook Becomes Executive Chair",
    "dek": "Apple CEO John Ternus replaces Tim Cook, who moves to Executive Chair of the Board of Directors.",
    "prose": "On September 1, Apple officially announced that John Ternus has become the new CEO, succeeding Tim Cook. [^1]\n\nTim Cook has transitioned to the role of Executive Chair on the Board of Directors following his departure as CEO. [^2]\n\nApple announced that former CEO Tim Cook will receive a total compensation package of $47 million after stepping down from the CEO role to become board chair. [^3]\n\nApple Inc. announced that former CEO Tim Cook will receive a $47 million compensation package as he transitions to the newly created role of executive chairman. [^4]\n\nJohn Ternus is scheduled to introduce the new iPhone 18 Pro and iPhone Ultra lineup at Apple's fall media event on September 9. [^5]\n\nNew CEO John Ternus is projected to earn slightly more than Tim Cook, with a base salary of $3 million and potential stock awards of $55 million in the 2027 fiscal year. [^6]\n\nTim Cook's new compensation package consists of a base salary of $2 million and stock compensation of $45 million. [^7]\n\nTim Cook's total compensation of $47 million is approximately 40% lower than the $74 million he received during the 2024 and 2025 fiscal years. [^8]\n\nApple selected John Ternus as the new CEO to shift the company's leadership focus from operations to product and engineering. [^9]\n\nIn a US Securities and Exchange Commission (SEC) filing, Apple noted that Tim Cook's base salary has been raised to $3 million with a target annual equity award of $55 million for financial year 2027. [^10]\n\nThe leadership change is expected to herald a shift in company strategy toward a more product-oriented vision compared to Cook's operational expertise. [^11]",
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