Apple has announced that John Ternus will become its new CEO, succeeding Tim Cook, who will step down on September 1 to assume the role of Executive Chairman. Ternus, a 25-year veteran of Apple and former Senior Vice President of Hardware Engineering, is known for his low public profile and extensive experience in hardware development. Following the announcement, Apple's stock experienced a slight dip of less than 1% in after-hours trading. Ternus's appointment marks a shift in leadership style, as he is the first engineer to lead the company, contrasting with his predecessors who were known for their expertise in operations and marketing. As CEO, Ternus will face significant challenges, including the delayed launch of Apple's AI-powered Siri and the upcoming release of the company's first foldable iPhone. With a strong background in hardware, Ternus is expected to focus on maintaining Apple's competitive edge in product design while addressing the company's AI strategy.