Apple’s new CEO John Ternus will receive a $3 million salary and $55 million stock award for fiscal 2027. Know about his career, compensation and net worth.
Apple has officially entered a new leadership phase, with John Ternus taking over as the company’s chief executive officer on September 1, 2026. Ternus succeeds Tim Cook, who led Apple for around 15 years and has now moved into the role of executive chairman.
Ternus is a longtime Apple executive with more than two decades of experience at the company. His appointment was part of Apple’s long-term succession planning process, with the board describing him as a leader with deep technical knowledge, product expertise and a strong understanding of Apple’s culture.
More than 25 years at Apple
John Ternus joined Apple in 2001 after previously working as a mechanical engineer at Virtual Research Systems. He graduated from the University of Pennsylvania in 1997 with a bachelor’s degree in mechanical engineering.
He initially worked within Apple’s product design organization before taking on increasingly senior positions in hardware engineering.
In 2021, Ternus became Apple’s senior vice president of Hardware Engineering. In that role, he was responsible for teams working on major Apple products, including the iPhone, iPad, Mac, Apple Watch, AirPods and Apple Vision Pro.
His long experience in hardware development has made him one of the key figures behind Apple’s product strategy.
Apple’s eighth CEO
At 51, Ternus becomes the eighth CEO in Apple’s history. He is significantly younger than Tim Cook and has spent more than 25 years inside the company.
Apple’s board selected him following a long-term succession process. The company has highlighted his technical expertise, product vision, leadership abilities and familiarity with Apple’s operations as key strengths.
Tim Cook takes on a new role
Tim Cook became Apple CEO in 2011 after succeeding Steve Jobs. During his tenure, Apple expanded its product portfolio and significantly grew its services business.
Cook will now serve as Apple’s executive chairman, where he will continue to assist the company on certain matters, including relationships with policymakers around the world.
Apple has also disclosed a new compensation package for Cook in his new position, with a targeted compensation of $47 million for fiscal 2027.
AI will be one of Ternus’ biggest challenges
One of the biggest challenges facing Ternus will be Apple’s strategy in artificial intelligence.
Apple is competing with technology companies such as Google, Microsoft, Meta and OpenAI in an increasingly competitive AI landscape. Ternus will also have to oversee developments in new products, supply-chain changes and Apple’s broader hardware strategy.
His background is particularly strong in hardware engineering, making the company’s approach to AI and the integration of AI into future devices an important area to watch.
How much will John Ternus earn as Apple CEO?
The compensation details for Apple’s new CEO have now been disclosed.
According to Apple’s latest regulatory filing, Ternus will receive an annual base salary of $3 million. For fiscal 2027, Apple has also approved an annual equity award with a target value of $55 million, taking his target compensation to approximately $58 million.
Of the $55 million equity award, 75% will consist of performance-based restricted stock units (RSUs) linked to Apple’s total shareholder return compared with other S&P 500 companies.
The remaining 25% will consist of time-based RSUs, which will vest semiannually over four years.
Ternus will also receive a prorated RSU award valued at $2.5 million for his period as CEO during fiscal 2026.
Importantly, the $55 million figure is a target equity value, not simply a guaranteed cash salary. The final value can vary depending on performance and the terms of the awards.
What is John Ternus’ net worth?
Some online reports have estimated John Ternus’ personal net worth at around $75 million. However, this figure is not an officially disclosed Apple figure and should therefore be treated as an unverified estimate, rather than a confirmed net-worth figure.
His compensation and long tenure at Apple have made him one of the company’s most prominent executives, but publicly available information about his complete personal assets remains limited.
John Ternus’ personal life remains private
Despite his high-profile position at Apple, Ternus has generally maintained a low public profile regarding his personal life.
Information about his family and marital status is limited in publicly available sources. His professional career and work on Apple’s hardware products have received considerably more attention than his personal life.
What lies ahead for Apple under John Ternus?
Ternus takes charge of Apple at a crucial time for the technology industry. The company is navigating rapid developments in artificial intelligence, changing global supply chains and growing competition in next-generation technology.
His extensive experience in hardware engineering and product development gives him a strong understanding of Apple’s products and operations. The key question now is how he will use that experience to guide Apple through its next phase of growth.
Apple’s leadership transition marks one of the company’s most significant changes in recent years, and Ternus’ performance as CEO will be closely watched by investors, consumers and the wider technology industry.
