April 20, 2026: Apple Names Ternus as Next CEO, Labor Secretary Chavez-DeRemer Leaves, More
episodePreviously titled “Apple Names Ternus as Next CEO, Labor Secretary Chavez-DeRemer Leaves, More” — renamed by the publisher on Aug 2, 2026
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A new chapter in global growth is being written and much of it is happening in Africa.
Africans need to invest. There are deals to be done and business to be won.
I'm Jennifer Zabasaja. Every week on the Next Africa podcast, we track capital flows and political shifts shaping the continent's future.
The digitalization of Africa is going to power its growth. Creating the world of something like HIV is possible. Population growth is so enormous in Africa.
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News when you want it with Bloomberg News Now, I'm Doug Krisner. Apple has named John Ternes as its next CEO, effective September 1st. Now the current CEO, Tim Cook, will be shifting to the role of executive chairman. Ternes has been the head of hardware engineering since 2021. Here is Bloomberg's Mark Gurman.
Clearly, Ternus has been the guy for a while now. Obviously, he oversaw the MacBook Neo announcement at the beginning of March. They have been preparing him for this role for several months. Tim Cook asked him to take on responsibility over Apple's software and hardware design teams at the end of last year. If you look at Apple's executive team, Ternus, 50 years old, 15 years younger than Tim, the youngest member of the executive team by far, so they really had no other options. At the same time, Apple has been looking for a product-focused leader, and Ternus is prepared for that.
That is Bloomberg's Mark Gurman. The White House says Labor Secretary Lori Chavez de Reimer will be leaving the administration to take a position in the private sector. Now, she had faced a series of allegations regarding abuses of power. Here is Bloomberg's Megan Scully.
There have long been issues Secretary Dreamer, former Secretary Dreamer's husband, was actually barred from the Labor Department just several months ago due to sexual assault allegations among other female staffers there. Then, of course, we have the news that broke last week from The New York Times on text messages between the secretary and young staff and also between her father and I believe her husband and staff as well. So it's certainly, you know, it's been interesting to watch the dominoes fall.
That is Bloomberg's Megan Scully. By the way, Keith Sonderling will be taking over the role of Labor Secretary. President Trump says he is not likely to extend the two-week ceasefire with Iran. Today, the president said the truce expires Wednesday evening Washington time. Bloomberg's Jeff Mason spoke with the president on the phone.
He said he's not in a rush and won't be put into a rush to achieve a deal with Iran.
What are the implications of John Ternus being named the next CEO of Apple?
And that's a little bit of a shift from the language that we were hearing from him last week, which was, Much more along the lines of we're already there. The deal is pretty much done. But today he told me that he does not want to be pushed into a deal that ends up being a bad deal.
That is Bloomberg's Jeff Mason. Trump also said that if the two sides cannot come to a deal before the ceasefire expires, fighting will likely resume. And Trump said the straightforward moves will remain blocked until an agreement is finalized. Meantime, Vice President J.D. Vance is set to leave for Pakistan to resume negotiations with Iran. He'll be joined by Jared Kushner and Special Envoy Steve Witkoff. And we are told Iran is also sending a delegation to Islamabad for those negotiations. Today, a New York trading crude oil prices rally WTI for May was up nearly 7% to 89.61, and Citigroup said that oil prices could rise to $110 if traffic in the Strait of Hormuz remains disrupted for another month.
The equity market drifted lower. We had the S&P 500 halting a five-day advance, declining from a record high by two-tenths of one percent. The Dow was essentially flat. The Nasdaq composite lost more than two-tenths of one percent, also dropping from an all-time high. We got reaction from Mark McCormick. He is chief FX strategist at BMO.
I think what the market's trying to figure out is like if this event ends or if the conflict ends, do we go back to the world that we had before the conflict started?
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