Overview
- Apple updated its leadership page on Tuesday, Sept. 1 to formally name John Ternus as chief executive officer and to list Tim Cook as executive chairman.
- The company filed an SEC disclosure that sets Ternus’s 2027 target pay at roughly $58 million with a $3 million base salary and about 75 percent of his equity award tied to performance versus S&P 500 peers.
- Ternus told staff in an internal memo that the company has a “huge” launch next week and Apple has scheduled an autumn product event for Sept. 9 that is expected to include the iPhone 18 Pro/Max and Ultra‑series foldable models.
- Reporting shows an internal reshuffle under Ternus: former CFO Luca Maestri has stepped back from running enterprise services and CFO Kevan Parekh has taken on expanded responsibilities alongside other senior leaders.
- Public signals have been tightly managed: Ternus opened X and Weibo accounts, Apple’s official X account switched to follow only him, and the new Weibo avatar was quickly replaced after criticism, all underscoring the PR focus on a smooth transition.