Apple awarded Tim Cook a $47 million compensation package (salary + stock) upon his transition from CEO to executive chair on September 1, with John Ternus becoming new CEO. Cook's high compensation reflects his retained influence over policy, international relations, and global stakeholder engagement—a specialized role that Apple created specifically for him. The transition marks only Apple's second CEO change this century after Cook's 15-year tenure, during which he grew the company to a $4.75 trillion market valuation while managing critical relationships with both the US government and China.