Apple has entered a new chapter as John Ternus takes over as chief executive officer, succeeding Tim Cook after a 15-year tenure.

Cook will remain involved with the company as executive chairman, while Ternus takes charge at a time when Apple is under pressure to strengthen its position in artificial intelligence.

Under Cook, Apple grew from a company valued at about $350 billion into one valued at more than $4.5 trillion.

The company expanded its wearables, services and global hardware businesses, while its massive iPhone ecosystem continued to generate significant revenue.

Ternus now faces the challenge of leading Apple through a changing technology landscape.

Reuters reports that Apple is working to improve its AI strategy while also reducing its manufacturing dependence on China by expanding production in countries including India and Vietnam.

Apple is also preparing for its next major product cycle, meaning investors and consumers will closely watch the company’s upcoming announcements.

The new leadership comes at a particularly important period for the iPhone maker as competition in AI becomes more intense.

The transition is one of the biggest developments in Apple’s recent history.

Ternus will be expected to maintain the company’s financial strength while convincing investors that Apple can remain competitive in the next generation of technology.

Source: Reuters