APPLE NAMES TERNUS CEO; COOK BECOMES CHAIRMAN

John Ternus will take over as Apple's chief executive officer, marking a significant leadership transition for the tech giant. Tim Cook, who has led Apple since 2011, will assume the role of executive chairman. Ross Gerber, co-founder and CEO of Gerber Kawasaki Wealth and Investment Management, expressed strong support for the decision. "I couldn't be happier about it," Gerber stated in remarks on Bloomberg The Close. Ternus, who previously served as senior vice president of hardware engineering at Apple, has been instrumental in developing the company's product lineup. His promotion reflects Apple's confidence in his ability to navigate the company's future strategic direction. The leadership change positions Cook to focus on broader corporate strategy and stakeholder relations while Ternus assumes day-to-day operational responsibilities. The announcement signals continuity in Apple's leadership structure during a period of ongoing innovation in consumer technology.