Apple CEO John Ternus started Tuesday. His $55 million award starts next year

Apple has appointed John Ternus as its new CEO, who officially started his role on Tuesday. In his first internal memo, Ternus described the September 9 launch as phenomenal and praised Tim Cook. Regarding compensation, Ternus will receive a $55 million award starting next year. Apple has linked 75% of his annual equity target to shareholder returns relative to the S P 500, though neither award will be granted until fiscal 2027.