Apple names John Ternus CEO

The leadership transition was approved unanimously by Apple's board of directors following a thoughtful succession planning process.

Ternus is credited with overseeing the development of the iPhone 12 through the latest models, as well as the transition to Apple silicon.

Tim Cook will remain with the company as executive chairman, focusing on long-term strategy and the consumer tech ecosystem he established.

Investors have responded positively to the appointment, viewing Ternus as a safe and capable leader for the $4 trillion company.