News Summary

• John Ternus was Apple's senior vice president of hardware engineering.
• He succeeds Tim Cook, who stepped down after 15 years at the helm of the company.
• His first day comes just over a week before the annual iPhone launch event on Sept.
• There are major challenges ahead, driven by the global RAM shortage, increasing smartphone competition and Apple’s struggles to keep up with the artificial intelligence race.
• The first two CEOs of Apple were likewise “products guys” — Michael Scott ran a semiconductor company and Mike Markkula was an electrical engineer.