The veteran hardware executive takes over as the $4.7 trillion company has struggled to compete with rivals in artificial intelligence.

Apple's former hardware engineering chief John Ternus officially became CEO of the company today, with the change now reflected on Apple's leadership page. Ternus joined Apple in 2001, became a vice president of hardware engineering in 2013,

John Ternus takes the helm of a $4 trillion tech giant, but it comes with challenges as Apple faces down the RAM shortage, AI launch delays and the foldable phone market.

While Tim Cook's legacy and John Ternus's effectiveness will be studied for years, right now Apple is making a change of CEO seem effortless. But never doubt that this will be a sea change for the company,