Apple names new CEO

Apple on Monday named longtime hardware boss John Ternus as its next CEO, Reuters writes.

Ternus will replace Tim Cook.

Cook, a ‌supply-chain genius who boosted Apple’s market value by $3.6 trillion in his 15 years at the helm, will stay on as executive chairman when Ternus takes over on Sept. 1, Apple said in a statement.

Ternus, who joined Apple in 2001, has played a central role in reviving products such as the Mac, which has gained market share against PCs. Though he has kept a low public profile, he has been deeply involved in shaping Apple’s biggest products such as iPads and AirPods.

The transition ​comes at a crucial time for Apple. After years on top of the most-valuable company scoreboard, Apple has lost its crown to AI chipmaker Nvidia.

As noted, integrating AI into the iPhone ⁠may be Ternus’ hardest challenge.