Apple's Srouji Leads Major Leadership Reshuffle as Stock Holds Near $296

On May 19, Apple’s Chief Hardware Officer Johny Srouji launched a broad leadership and structural reorganization to accelerate device development and deepen silicon integration ahead of John Ternus’s Sept. 1 CEO transition. The moves follow the May 14 announcement that Tim Cook will step down and become executive chairman, with WWDC 2026 set for June 8-12 as his final keynote. Apple reported fiscal 2025 revenue of $461 billion and EPS of $7.49, while shares traded near $296 with a $4.37 trillion market cap as investors assess execution risks during the handover.