Tim Cook is set to transition from his role as CEO of Apple to become the Executive Chairman, with John Ternus taking over as the new CEO. This marks a significant shift for the tech giant after Cook's 15-year tenure at the helm.

Reactions from notable figures like Warren Buffett, Sam Altman, and Donald Trump highlight the impact of Cook's departure on the industry. The announcement has sparked discussions about the future direction of Apple under Ternus's leadership.