Apple Inc. announces a change in leadership! Turner takes over as CEO, while Cook transitions to executive chairman.

After the U.S. stock market closed on Monday, Apple Inc. announced a major personnel adjustment. The company stated that current CEO Tim Cook will officially step down from his CEO position on September 1st and will transition to the role of executive chairman. The new CEO will be John Ternus, the current Senior Vice President of Hardware Engineering. After the announcement, Apple Inc.'s stock price fell by about 0.8% in after-hours trading. Cook will continue to fulfill his CEO duties during the summer and will complete a transition period with Ternus. As executive chairman, Cook will still be involved in some company affairs, including communication with global policy makers. Cook, who is 65 years old, officially became CEO in August 2011, succeeding Steve Jobs. Under his leadership, Apple Inc. successfully expanded into multiple new product areas, including Apple Watch, AirPods, and Vision Pro, and significantly increased its services business. The company's market value has also grown from around $350 billion when Cook took over to about $4 trillion, with annual revenue increasing several times over. In his statement, Cook expressed that being Apple Inc. CEO was the "greatest honor of his life" and thanked the company team. He highly praised Ternus, stating that he possesses an engineer's mindset, innovation spirit, and leadership, making him the right candidate to lead Apple Inc. into the future. Ternus, who is 51 years old, joined Apple Inc. in 2001 and has been responsible for hardware engineering for a long time, being one of the core members of the company's technical management team. In his statement, he expressed his commitment to continuing Apple Inc.'s mission and values, and his confidence in the future development. At the same time, the company also announced several senior management adjustments. Current board chairman Arthur Levinson will transition to the role of chief independent director, Ternus will join the board, and Johny Srouji will immediately be promoted to Chief Hardware Officer, responsible for the company's chip and hardware strategy. The news of Cook stepping down as CEO had been reported by the media multiple times before, and this official announcement marks the beginning of a new round of leadership change at Apple Inc. Analysts believe that despite Cook remaining involved in company affairs as an executive chairman, the market will closely watch the performance of the new CEO in terms of product innovation and strategic direction.