Tim Cook Passes Apple Baton to John Ternus

0:00It's April 20th, I'm Cory with the story, and this is California News today, your AI-powered local news. Apple's CEO Tim Cook is passing the torch after nearly 15 years at the helm, a run that boosted the company's value by more than $3 trillion, $600 billion on the back of iPhone dominance. He's handing over to John Ternis, the 50-year-old head of hardware engineering who's been with Apple for 25 years, including the last five. Working work on the iPhone, iPad, and Mac, Cook stays on as executive chairman starting September 1st. Ternis called it a profound honor to keep Apple's mission alive, while Cook said leading the company was the greatest privilege of his life. Surrounded by innovative talent, he loves deeply. This shift mirrors moves by Jeff Bezos at Amazon and read Hastings at Netflix, who step back as CEOs, but stuck around in chairman roles after huge successes. Meanwhile, it hits right as AI shakes up tech like the iPhone did back in 2007.

1:02Apple's playing catch-up, teaming with Google too, supercharged series after some early stumbles, setting the stage for Ternis to steer through this new era.