Apple said Tim Cook will step down as CEO in September and become executive chairman, with hardware chief John Ternus named as his successor starting Sept. 1, marking Apple’s biggest leadership shift in years.
Apple said Monday that Tim Cook will step down as chief executive in September, handing the role to John Ternus, the company’s head of hardware engineering, on Sept. 1. Cook, 65, will remain with the company as executive chairman
The transition caps a 15-year run in which Apple’s value climbed by trillions of dollars, with recent estimates placing the company around $4 trillion and the gains during Cook’s tenure at more than $3.6 trillion. Figures vary by outlet, but all point to enormous growth under his leadership
Apple said the change was unanimously approved by its board and followed a long-term succession process. “It has been the greatest privilege of my life to be the CEO of Apple,” Cook said, adding that Ternus is “without question the right person to lead Apple into the future.”
Ternus, 50, has led Apple’s hardware engineering organization since 2021 and has been involved in major product lines including iPad, AirPods, iPhone, Mac and Apple Watch. In a company statement, he said he was “profoundly grateful” for the opportunity to carry Apple’s mission forward
Cook, who took over from co-founder Steve Jobs in 2011, broadened Apple’s services business and overhauled its supply chain while overseeing new product categories such as Apple Watch and AirPods
As executive chairman, Cook will assist with select company matters, including engagement with policymakers. Apple did not immediately provide additional details on the transition beyond the Sept. 1 handoff
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