Overview
- John Ternus formally became Apple’s CEO on Sept. 1 and will lead the company’s prerecorded presentation for the Sept. 9 ‘Surprise and Shine’ event.
- Tim Cook moved to executive chairman, will remain on campus, and is not expected to appear in the event video but will attend the screening in the VIP section.
- Apple’s SEC filings show large target pay packages for both executives with Ternus’s fiscal 2027 target near $58 million and Cook’s chairman package around $47 million.
- Ternus faces immediate operational tests including the expected foldable iPhone and iPhone 18 Pro lineup at the event, a delayed Siri rollout blocked in the EU by regulator rules, and margin pressure from a global memory‑chip shortage.
- Behind the scenes Apple has rearranged offices and roles as part of the handover, signaling a practical transfer of day‑to‑day authority while Cook remains available for government and strategic relationships.