#TernusSucceedsCook

#AppleLeadership #TimCook #JohnTernus The Cook era has officially come to an end, marking the beginning of a new chapter for Apple. On September 1, Tim Cook officially stepped down as Apple’s CEO and moved into the role of Executive Chairman, with John Ternus taking over as the company’s new CEO. #OKXOutcomesRelay #RobinhoodChainSurge #OilTankerRiskLiftsOil

JUST IN: Apple accuses OpenAI of destroying evidence in trade secrets lawsuit

Apple has awarded its departing chief executive a pay deal approaching that of his successor John Ternus, signalling that Cook will continue to play a big role in the new position that was created for him.

Who Is John Ternus, the New Apple CEO?

When incoming Apple CEO John Ternus spoke to CNBC in late 2023, he was all about the technology. Custom chips, device battery life and memory architecture were among his primary interests. Ternus’ job gets a whole lot bigger on Tuesday, when he succeeds Tim Cook and becomes just the second CEO of Apple since Steve Jobs left in 2011, shortly before his death. The 25-year company veteran will be responsible for everything from software and devices to finance and legal, while also having to articulate a vision for a $4.7 trillion company that hasn’t yet fully executed its strategy in artificial intelligence. Read the full story:

JUST IN: Apple CEO John Ternus joins 𝕏 on his first day in the role.

NEW: Apple sets pay for John Ternus and Tim Cook in their new roles. Ternus CEO target pay for 2027 is $58 million, while Cook as chairman is at $47 million. This is salaries + stock units that can fluctuate in value so could be higher (likely) or lower.

Apple’s new CEO John Ternus is getting a bigger target pay package than Tim Cook. Ternus: • $3M annual salary • $55M FY27 equity award target • $2.5M prorated FY26 RSU award Cook, now Executive Chairman: • $2M annual salary • $45M FY27 equity award target Both changes are effective in September, per an SEC filing.

John Ternus just took over as CEO of Apple $AAPL ... here is the full first letter he sent to all Apple employees: "Team, Today, on my first day as CEO, I just wanted to send a quick note to thank everyone for the warm wishes. I also want to extend my deep appreciation to Tim for sharing so much of his knowledge and experience during this transition, and more importantly, for everything he contributed to Apple over the years. We’re so lucky to have had a CEO who led with his values and with such decency and humanity. We are all better for it, and I’m so grateful he’ll be our executive chairman. I’m honored to be stepping into this role at what is truly the greatest company in the world, and I am so excited about everything we have in store. We have a huge launch next week that’s going to be phenomenal. Thanks for everything you’ve all done to make it possible. I’m just as excited about what lies beyond that, including the incredible products already in the works and the ones we haven’t even imagined yet that we’ll dream up and create together. There’s no team in the world I’d rather build the future with. More to come. In the meantime, thanks for your excellent work! John"