John Ternus Takes Over as Apple CEO

John Ternus has officially taken over as Apple CEO, succeeding Tim Cook after a 15-year tenure that saw the company's value grow from $350 billion to over $4.6 trillion. According to Reuters and Al Jazeera, Cook transitions to executive chairman, focusing on global policy relations amid U.S.-China tensions.

The transition marks one of the most consequential CEO tenures ever, with Apple's annual sales rising from $108 billion at the start of Cook's tenure to $416 billion in the last fiscal year. However, critics have long accused Apple of losing its innovation edge in the Cook era, particularly in AI features and hardware rivals displacing the smartphone as the default consumer device.

The handover ends Tim Cook’s 15-year run, replacing the operations specialist who built Apple’s supply chain with the engineer who built its hardware. Ternus, 51, joined Apple’s design team in 2001 and worked his way up to senior vice president of hardware engineering, reporting to Cook.

Ternus faces significant challenges, including balancing Apple's dependence on China while parrying acute political pressure from the White House. He will also need to demonstrate that AI will be more than an app on the iPhone and address supply chain diversification as Apple shifts some manufacturing to India and Vietnam.

On his last day as CEO, Cook said yesterday that he was 'excited for the next chapter.' According to CNBC, Ternus is expected to make a notable appearance at Apple's annual launch event next week. The company is anticipated to unveil its new iPhone and Apple Watches during this event.

The transition comes at a pivotal time as artificial intelligence has unleashed significant upheaval within the industry since Steve Jobs unveiled the first iPhone in 2007. According to PBS, Apple has had a rough start in AI after stumbling with new features built on the technology that were promised nearly two years ago.

The company recently unveiled new artificial intelligence advances, including upgrades to its Siri assistant, emphasizing privacy and day-to-day use as it tries to catch up with rivals. Ternus will need to navigate supply chain questions and relationships with key political figures such as President Donald Trump who has offered public praise for Cook.

Ternus worked on some of Apple's signature products under Cook, including the Apple Watch, AirPods, and Apple Vision Pro. He is set to headline next week's launch of the latest iPhone at Apple's Cupertino headquarters.

Tim Cook has received a $47m (£35m) pay deal as Apple’s executive chair, a remuneration package that nears the level set for his successor as chief executive. According to The Guardian, Cook will be paid a base salary of $2m and $45m worth of shares. Half of the share award will be based on performance targets being met, while the remaining half will be paid out over four years.

Ternus will receive a base salary of $3m and a $55m share award, with the latter more weighted to performance. Cook’s total compensation as CEO for 2025 exceeded $74m.