Ternus Takes the Helm at Apple Amid Expectations of Shift in Business Model

Apple Inc (NASDAQ:AAPL, XETRA:APC) shares rose 2.7% as John Ternus began his tenure as CEO, succeeding Tim Cook.

Ternus, formerly Apple's senior vice president of hardware engineering, took over the top spot on a date that was not specified in the source.

Cook will remain with the company as executive chairman, a role he has assumed after leading Apple for nearly 15 years.

In an email to Apple staff on his first day as CEO, Ternus thanked colleagues for their support and praised Cook's leadership, calling him 'a CEO who led with his values and with such decency and humanity.'