Tech giant Apple announced John Ternus as its new chief executive officer (CEO), effective September 1, succeeding Tim Cook after 15 years of leading the company.
Ternus, 51, takes over after spending 25 years at Apple, most recently serving as senior vice president of Hardware Engineering and reporting directly to Cook.
During his time at the company, Ternus played a key role in the development of major products, including the iPad and AirPods, as well as several generations of the iPhone, Mac, and Apple Watch.
He also helped in the recent introduction of the MacBook Neo, Apple’s most affordable MacBook, which made the company’s laptops accessible to more consumers.
A new era
As Apple’s new CEO, Ternus is now expected to lead the company at a time when artificial intelligence (AI) is rapidly reshaping the technology industry and becoming an increasingly important part of Apple’s future.
The company already stepped up its push into the technology earlier this year with a new generation of Apple Intelligence and a redesigned Siri.
For Ternus, his extensive background in hardware engineering could help Apple bring more AI features to its devices and develop new products.
New products ahead
Apart from AI, Ternus is also preparing for Apple’s September 9 event, just over a week after taking over as CEO.
The company is expected to introduce the iPhone 18 Pro lineup and its first foldable iPhone at the event.
The launch comes as Apple products are getting more expensive. The company raised prices on several Macs and iPads earlier this year, citing higher memory costs.
Reports suggest that the upcoming iPhone 18 Pro models could also see price increases, while Apple’s first foldable iPhone is expected to cost more than $2,000.
In his first memo to employees, obtained by 9to5Mac, Ternus expressed his excitement about the upcoming event.
“We have a huge launch next week that’s going to be phenomenal,” he said.
Ternus also said he is looking forward to products already in development and those the company has yet to imagine.
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Cook stays with Apple
Despite stepping down as CEO, Cook will remain with Apple as executive chairman of the board.
His 15 years leading the company saw Apple’s market capitalisation grow from around $350 billion to $4 trillion, an increase of more than 1,000 per cent.
Cook also oversaw the expansion of Apple’s products and services, including the introduction of the Apple Watch, AirPods, Apple Pay and Apple TV.
In his new role, Cook is expected to assist the company in maintaining relationships with policymakers around the world, including United States President Donald Trump, who publicly praised his tenure on his Truth Social platform.
Pay packages
Along with their new roles, Ternus and Cook will also receive new pay packages. Ternus will receive an annual salary of $3 million as CEO.
He was also granted a $2.5 million stock award for his time in the role during fiscal 2026 and is set to receive a $55 million equity award in fiscal 2027, according to an Apple filing with the US Securities and Exchange Commission (SEC).
Cook, meanwhile, will receive an annual salary of $2 million starting September 26, along with a $45 million equity award for fiscal 2027.
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