John Ternus hypes ‘huge launch next week’ in first memo as Apple CEO

Live updates

1. 12d ago

   John Ternus takes over as Apple CEO ahead of September 9 launch

   John Ternus officially began his tenure as Apple CEO on Tuesday, succeeding Tim Cook. In his first memo to staff, Ternus touted the company's product pipeline and described the upcoming September 9 iPhone launch as "phenomenal." Ternus inherits a company facing intensified memory shortages and the need to close gaps in the AI race. While Tim Cook transitions to the role of executive chairman, Ternus will lead the company through a critical product cycle focused on AI upgrades and new hardware.

   Why it matters

   Tim Cook led Apple for 15 years, overseeing a 2,300% gain in company value. The transition occurs as Apple faces pressure to accelerate its artificial intelligence capabilities. Cook remains involved in a leadership capacity as executive chairman.

   What is confirmed

   • John Ternus started his role as Apple CEO on Tuesday.
   • Ternus described the September 9 iPhone launch as "phenomenal" in his first staff memo.
   • Tim Cook has transitioned to the role of executive chairman.
   • Ternus will receive a $3 million salary.
   • Ternus has a $55 million award that begins next year.
   • Tim Cook will be paid $47 million as executive chair.

   Still unconfirmed

   • John Ternus "bends knee" to Donald Trump on his first day of work.
   • Tim Cook's farewell email consisted of only 9 words.

   What to watch next

   • The September 9 iPhone event and AI upgrade reveal.
   • Ternus's first quarterly earnings report as CEO.
   Sources used for this update (17)

   1. The New York Times — Apple Begins Its Next Balancing Act as New C.E.O. Takes Over
   2. Reuters — Cook hands Apple to Ternus: bigger and richer, but catching up in AI race
   3. CNBC — Apple enters John Ternus era as AI challenges and memory crunch intensify
   4. inc.com — With Just 9 Words, Tim Cook’s Farewell Email Taught a Lesson for Every Leader
   5. Bloomberg.com — Apple Ternus Touts Product Pipeline, ‘Phenomenal’ Sept. 9 iPhone Launch in Memo
   6. Financial Times — Tim Cook to be paid $47mn as Apple’s executive chair
   7. TechCrunch — John Ternus hypes ‘huge launch next week’ in first memo as Apple CEO
   8. Deadline — Apple Unveils Pay Package For New CEO John Ternus
   9. Fortune — Apple CEO John Ternus started Tuesday. His $55 million award starts next year
   10. WSJ — Apple to Give New CEO $3 Million Salary
   11. Bloomberg.com — Apple’s Ternus Has ‘Huge Shoes to Fill’ After Cook’s 2,300% Gain
   12. The Daily Beast — Apple CEO Bends Knee to Trump on First Day of the Job
   confidence 95%