Get Quartz in your inbox

Free daily briefing on global business news.

Apple's new CEO John Ternus will take home a $58 million pay package

Ternus will earn a $3 million annual salary and a $55 million stock award target, while Tim Cook's new chairman role is valued at $47 million

Michael Buckner / Getty Images

Apple $AAPL disclosed the compensation package for new Chief Executive Officer John Ternus on Tuesday, his first day in the role: a $3 million annual salary and a targeted equity award of $55 million for fiscal 2027, bringing his total target compensation to approximately $58 million.

Apple's board People and Compensation Committee also awarded Ternus a prorated RSU grant with a target value of $2.5 million for his partial-year........

© Quartz