John Ternus, Apple’s new chief executive officer (CEO), began his first day in the role on September 1 (local time). In a message to employees on his inaugural day, Ternus stated, “I am extremely excited about everything we are preparing” and added, “We will dream and create not only the amazing products already in development but also those we have not yet imagined.” Apple set Ternus’ target compensation for the 2027 fiscal year (September 2026–September 2027) at approximately 58 million dollars (approximately 79.78 billion Korean won).
Apple disclosed through a U.S. Securities and Exchange Commission (SEC) filing on the same day that Ternus’ target compensation for the 2027 fiscal year was set at approximately 58 million dollars. This includes a base salary of 3 million dollars and a stock compensation target of 55 million dollars. Seventy-five percent of the stock compensation will be determined by comparing Apple’s stock performance to the S&P 500, while the remaining 25% will vest upon fulfilling a service period. For the remainder of the current fiscal year, Ternus will receive restricted stock units (RSUs) worth approximately 2.5 million dollars. Tim Cook, who stepped down as CEO to become board chairman, has a target compensation of approximately 47 million dollars (approximately 64.65 billion Korean won) for the 2027 fiscal year.
In his first message to employees after his first day, Ternus wrote, “I am honored to take on this role at the world’s greatest company.” He directly referenced an upcoming new product event next week, stating, “There will be an incredible launch next week, and it will be truly amazing.”
He added, “We will dream and create not only the amazing products already in development but also those we have not yet imagined,” and emphasized, “There is no team in the world I would rather build the future with.”
Apple’s major new product event on September 9 is expected to unveil the iPhone 18 Pro and the first foldable iPhone. Ternus, a hardware engineer by background, highlighted new products and long-term product vision in his inaugural message.
Ternus also expressed gratitude to Cook, acknowledging his mentorship during the transition. He praised Cook for leading the company “with values, dignity, and humanity” and stated, “I am very grateful that he remains as board chairman.”
Ternus joined Apple in 2001 and led hardware development for major products including the iPad, iPhone, Mac, and Apple Watch. He also played a key role in Apple’s transition to self-designed semiconductors. The success of Ternus’ leadership will hinge on whether Apple can combine its hardware, self-developed chips, and operating system ecosystem with AI to create new growth engines, as the company has faced criticism for lagging in the AI race.
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