Apple has formally transitioned to a new CEO era under John Ternus, marking the company's first leadership change in 15 years. The shift accompanies a significant restructuring of Apple's senior executive ranks, with Ternus set to debut publicly at an upcoming Apple Event featuring new iPhone launches. The new executive team includes long-standing familiar faces alongside new roles, signaling Apple's direction post-Tim Cook as the company navigates new markets and maintains its $4 trillion valuation.