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What Apple's new CEO announcement signals ahead of earnings?
Wall Street investors have been abuzz around Apple (AAPL) this past week after CEO Tim Cook announced his plans to depart from the chief executive role this September, handing the reins off to John Ternus. Apple is also expected to report its latest earnings results this Thursday, April 30.
Baird senior research analyst of cloud software William Power comes on Market Domination to discuss these headlines making waves ahead of Apple's earnings release.
Talk about Apple. It's another name I know you like. What did you make of the new CEO there, Will? John Turnis is coming in. Um, what did you make of the timing of this change?
If New Apple CEO John Ternus Takes Anything Away From Tim Cook's Legendary 15-Year Run, It Should Be This $841 Billion Lesson
Apple (AAPL +0.30%) surprised much of the market when it announced that longtime CEO Tim Cook would be stepping down in September and transition to executive chairman of Apple's board of directors. John Ternus, who has been serving as the company's senior vice president of hardware engineering, has been chosen to become the new CEO.
Similar to when Cook took over for Apple co-founder Steve Jobs, Ternus will step into the top job with much less name-brand recognition than Cook and big shoes to fill. Not only did Cook dramatically reshape Apple's supply chain, but he also delivered tremendous returns to shareholders during his legendary 15-year stint.
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Penn knew Apple’s next CEO long before the world did
Decades before 1997 Engineering graduate John Ternus was named Apple’s next CEO, he was a student and varsity swimmer at Penn — known to classmates for his discipline, calm temperament, and easy-going humor.
Apple announced earlier this month that Ternus, currently the company’s senior vice president of hardware engineering, will succeed CEO Tim Cook in September. As he prepares to take the helm of one of the world’s largest corporations, Ternus’ former classmates, teammates, and mentors say the traits that defined his career have been visible for decades.
1997 Penn Engineering graduate Paul Feehery — Ternus’ friend, roommate, colleague, and senior project partner — said Ternus stood out for his consistent approach to work.
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