Cook’s $47 Million Step Down

CupertinoJohn Ternus became Apple’s CEO on Tuesday.

Cook’s new chairman pay, $47 million, is nearly what running Apple now earns.

Ternus, a hardware engineer at Apple since 2001, takes charge as the company still trails rivals in AI.

Apple unveils a new iPhone and its first foldable device on September 9.

Sources: Bloomberg Business, Al Jazeera Online