Apple Inc. has announced that John Ternus will take over as chief executive officer, succeeding Tim Cook, who is stepping down after leading the company for 15 years.
Ternus, who currently heads hardware engineering and has spent 25 years at the company, is set to assume the role on 1 September. Cook will transition into the position of executive chairman.
Cook has served as CEO since 2011, when he took over from co-founder Steve Jobs, who resigned due to health challenges shortly before his passing.
He will remain in charge throughout the summer to ensure a smooth handover, after which he will continue supporting the company in selected areas, including engaging with global policymakers.
His decision to step down comes after months of speculation about leadership succession within Apple. Reflecting on his time in charge, Cook described the role as the greatest honour of his career, during which he guided the company to become one of the most valuable in the world.
In 2018, Apple made history by becoming the first publicly traded company to reach a $1 trillion valuation. Today, its market value stands at approximately $4 trillion.
Cook praised Ternus as a forward-thinking leader, highlighting his engineering expertise, innovative mindset, and strong leadership qualities. He expressed full confidence in Ternus’s ability to guide the company into its next phase.
Ternus had increasingly been viewed as a leading candidate for the top role, especially following the departure of longtime chief operating officer Jeff Williams.
Over his extensive career at Apple, Ternus has contributed to nearly all major product lines, including multiple generations of the iPad and iPhone, as well as the introduction of AirPods and the Apple Watch. He also played a key role in transitioning Mac computers to Apple-designed processors.
Having previously worked closely with Jobs, Ternus acknowledged Cook as a mentor and expressed enthusiasm about the company’s future, saying he is optimistic about what lies ahead.
