John Ternus takes charge at Apple: Can a hardware chief restore its product edge?

John Ternus assumes the role of Apple's new CEO on Tuesday, replacing Tim Cook after his 15-year leadership. Cook, who announced his departure in April, will stay with the company as the executive chairman. During his tenure, Apple grew from a $350 billion to a $4.6 trillion enterprise. Cook's leadership saw the iPhone become a multi-billion-dollar business, expansion into services, wearables, and health priorities, and strengthening the company's presence in China and India.

Cook is known for his supply chain expertise and ability to navigate trade policies. As the company faces challenges such as a memory chip shortage, slowing revenue growth, and a need for new product innovation, Ternus, who has led hardware engineering at Apple, will need to restore the company's product edge.