Tim Cook becomes executive chairman as John Ternus named CEO
Business
Big change at Apple: Tim Cook is stepping down as CEO after 15 years, moving into an executive chairman role. Taking his place is John Ternus.
Even though he's shifting roles, Cook will still help steer Apple's big-picture relationships with the US government and China.
Ternus gets $3 million salary $55 million stock
Ternus is now in the CEO seat, with a $3 million salary and $55 million in stock.
Expect Ternus to push for faster product launches and dive deeper into AI and next-generation tech.
With Cook still around to offer guidance, Apple looks set for an interesting new chapter.