Tim Cook's legacy now rests on board tenure

Apple said on September 1 that it would pay new Chief Executive John Ternus $3 million a year in salary with a target equity award worth $55 million in the company's fiscal year ending September 25, 2027. His predecessor, Tim Cook, who is now executive chairman, receives $2 million annually, with a similarly structured bonus of $45 million.

Half of Cook’s award is in performance-based restricted stock units that vest based on Apple’s total shareholder return relative to other S&P 500 Index companies, and the other half in time-based RSUs that vest semiannually over four years.

(Editing by Jeffrey Goldfarb; Production by Maya Nandhini)

((For previous columns by the author, Reuters customers can click on CYRAN/robert.cyran@thomsonreuters.com; Reuters Messaging: robert.cyran.thomsonreuters.com@reuters.net))

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Robert Cyran

NEW YORK, Sept 2 (Reuters Breakingviews) - Former CEOs walk a tricky line as executive chairs. Apple's will help his successor make the move to managing supply chains and soothing politicians. John Ternus can't be looking over his shoulder for long, however, as he tries to build on a 15-year, 2,700% shareholder return.

Full view will be published shortly.

Follow Robert Cyran on Bluesky.