Apple transitions to new CEO John Ternus ahead of major product event

Apple CEO transition John Ternus Tim Cook iPhone 18 Pro foldable iPhone

Apple has undergone a major leadership transition as John Ternus succeeds Tim Cook as CEO. Cook has moved into the role of executive chairman, a move intended to ensure an orderly handoff ahead of the company’s major September 9 product event. Ternus, a hardware engineer with experience developing the Apple Watch and AirPods, faces immediate challenges including the evolution of AI, regulatory hurdles, and rising component costs.

At the upcoming keynote, Apple is expected to debut its first foldable iPhone, potentially named the iPhone Ultra, alongside the iPhone 18 Pro and Pro Max models. Analysts suggest these new devices may see price increases due to a “once-in-a-century flood” of rising memory and storage costs driven by AI data center demand.

Financial disclosures reveal Ternus’s target compensation for fiscal 2027 is approximately $58 million, with 75% of his equity tied to Apple’s performance relative to the S&P 500. Meanwhile, the company is also exploring strategies to increase App Store revenue and margins, a direction that reportedly coincided with Phil Schiller stepping down from his role coordinating the App Store and Apple Events.

Entities

Apple · Eddy Cue · John Ternus · Phil Schiller · Siri · Steve Jobs · Tim Cook

Claims

What the coverage asserts, and how many sources carry each claim.

[● 2 SOURCES] Apple is expected to introduce a foldable iPhone during the upcoming event. kioncentralcoast.com · kesq.com
[● 2 SOURCES] Apple reached a $5 trillion market capitalization in July. kioncentralcoast.com · kesq.com
[○ 1 SOURCE] An iPad mini with an OLED screen and water resistance is expected to launch by the end of October. www.gizmodo.jp
[● 2 SOURCES] A revamped version of Siri is set to launch this fall. kioncentralcoast.com · kesq.com
[● 7 SOURCES] Apple is expected to hold a major product announcement event on September 9. www.gizmodo.jp · kioncentralcoast.com · kesq.com · forbesliberia.com · www.chiccheinformatiche.com · +2 more
[● 20 SOURCES] John Ternus has succeeded Tim Cook as the CEO of Apple. revistaq.mx · www.gizmodo.jp · kioncentralcoast.com · kesq.com · forbesliberia.com · +15 more
[○ 1 SOURCE] John Ternus's LinkedIn profile has not yet been updated to reflect his new role as CEO. tuoitre.vn
[● 4 SOURCES] The rise in memory and storage costs is driven by massive demand from AI data centers. genk.vn · soha.vn · www.aktuelno.me · www.chiccheinformatiche.com
[● 2 SOURCES] Apple leadership is exploring ways to increase App Store revenue and margins. www.mobilissimo.ro · techblog.gr
[● 2 SOURCES] Elon Musk agreed with Tim Cook's assessment regarding the significant increase in chip prices. genk.vn · soha.vn
[● 8 SOURCES] John Ternus succeeded Tim Cook as Apple CEO on September 1. genk.vn · soha.vn · www.elnacional.cat · www.iphoneincanada.ca · www.macitynet.it · +3 more
[● 5 SOURCES] Tim Cook transitioned to the role of executive chairman. genk.vn · soha.vn · www.iphoneincanada.ca · www.tuaw.com · www.actualidadiphone.com