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Apple Appoints John Ternus CEO As Tim Cook Steps Into New Role

Apple’s New Chapter

After 15 years under CEO Tim Cook, Apple is entering a leadership transition with the appointment of John Ternus as chief executive, effective September 1. Ternus, currently senior vice president of hardware engineering, takes charge of one of the world’s most valuable companies at a time of rising expectations around artificial intelligence and product innovation.

A Lifetime Dedicated to Apple

At 51, Ternus brings 25 years of experience to Apple. He joined the company in 2001 as part of the product design team and advanced steadily through engineering leadership roles. By 2013, he was appointed vice president of hardware engineering, before being promoted to senior vice president in 2021. His appointment reflects Apple’s preference for long-term internal leadership, with only a small number of CEO transitions over the past decades.

Precision and Passion: Ternus’ Early Impact

Early career experience at Apple was shaped by a strong focus on product detail and engineering discipline. In a commencement speech at the University of Pennsylvania, Ternus recalled inspecting components during a supplier visit for the Apple Cinema Display, highlighting a culture where even minor details are closely scrutinized. This attention to precision became a defining characteristic of his leadership approach.

Iconic Projects and Legacy of Craftsmanship

Throughout his tenure, Ternus has contributed to major hardware initiatives, including AirPods, Apple Watch, Vision Pro, and the transition to Apple silicon. His involvement in product development reflects a focus on balancing performance, design, and manufacturing efficiency. References to Steve Jobs’ emphasis on unseen details continue to influence engineering priorities within Apple’s hardware teams.

Leading Through Innovation and Humility

As CEO, Ternus is expected to balance continuity in product design with new strategic priorities, particularly in artificial intelligence and emerging hardware categories. In a 2024 commencement speech, he emphasized the importance of combining confidence with openness to learning, a perspective that aligns with Apple’s collaborative engineering culture.

Beyond the Boardroom

Outside of his executive role, Ternus has maintained a relatively low public profile. His background includes participation in collegiate athletics and early engineering projects, including assistive technology development during his university years.

Looking Ahead

Ternus’ appointment marks a leadership shift as Apple navigates increasing competition in AI and evolving consumer expectations. His experience in hardware engineering and long tenure within the company position him to guide Apple’s next phase of product and technology development.

Robust Cyprus Construction Activity Bolsters Vassilico Cement’s 2025 Performance

Vassilico Cement Works Public Company Ltd reported a net profit of €35.52 million for 2025, supported by strong construction activity in Cyprus. Company profit reached €34.99 million, reflecting higher revenues and improved operating performance.

Domestic Market Growth Driven By Cyprus Construction

Group revenue rose to €152.75 million, while company revenue reached €152.66 million, up 11% year on year. Growth was driven by increased sales volumes in the domestic market, where construction activity remained strong throughout the year.

Enhanced Production Efficiency And Cost Management

Gross profit increased to €50.30 million at group level and €50.21 million at company level, compared with €42.49 million in 2024. The improvement reflects gains in production efficiency and cost control, supported by higher use of alternative fuels and improved electricity efficiency. These measures reduced unit costs while supporting environmental targets.

Executive Insights And Macroeconomic Outlook

Executive Chairman Antonis Antoniou said strong domestic demand supported production volumes, with the company maintaining focus on the local market and managing exports selectively. He added that favorable economic conditions in Cyprus contributed to performance, despite regulatory pressures in Europe and broader geopolitical uncertainty.

Navigating Energy And Regulatory Challenges

Future performance will be influenced by energy market volatility and European climate policy, including carbon pricing and the Carbon Border Adjustment Mechanism. Rising fuel and electricity costs continue to affect energy-intensive industries.

The company is expanding its renewable energy capacity, with a photovoltaic park reaching 16MW and plans for an additional 8MW, subject to grid connection. The investments aim to improve cost stability and energy efficiency.

Shareholder Returns And Strategic Investments

The board approved an interim dividend of €0.15 per share, totaling €10.79 million, on September 25, 2025. A final dividend of €16.55 million, or €0.23 per share, will be proposed. Combined, total dividends amount to €27.34 million, or €0.38 per share.

Management said the company will continue focusing on efficiency, cost control and sustainability as it navigates energy market pressures and regulatory requirements.

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