Tim Cook To Step Down As Apple CEO After 15 Years; John Ternus Named New Chief Executive

Apple CEO Tim Cook will step down from his role later this year, marking the end of a 15-year tenure at the helm of the technology giant. The company confirmed that Cook will transition to the position of executive chairman of Apple’s board after stepping down as chief executive on September 1.

The move paves the way for John Ternus, Apple’s current head of hardware engineering, to take over as CEO. A veteran at the company, Ternus has spent 25 years at Apple and has played a central role in shaping many of its flagship products.

Cook, who succeeded co-founder Steve Jobs in 2011 following Jobs’ resignation due to health reasons, will remain in the CEO role through the summer. During this period, he will work closely with Ternus to ensure a smooth leadership transition. After stepping down, Cook is expected to continue contributing to the company, including engaging with policymakers globally.

The decision follows months of speculation about succession planning at Apple. Reflecting on his tenure, Cook described leading the company as “the greatest privilege of my life”.

Cook Reflects on ‘Greatest Privilege’ as CEO

“It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lead such an extraordinary company. I love Apple with all of my being, and I am so grateful to have had the opportunity to work with a team of such ingenious, innovative, creative, and deeply caring people,” he said in a statement.

Under Cook’s leadership, Apple reached several historic milestones. In 2018, it became the first publicly listed company to achieve a market valuation of $1 trillion (£740 billion). The company is now valued at $4 trillion.

Cook also expressed strong confidence in his successor, describing Ternus as a “visionary” leader. “He has the mind of an engineer, the soul of an innovator and the heart to lead with integrity and honour. He is without question the right person to lead Apple into the future,” Cook added.

Ternus Tapped to Lead Apple’s Next Phase of Innovation

Ternus, who has worked at Apple for a quarter of a century, has been involved in nearly every major product the company has launched. His contributions span 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 overseeing the transition of Mac computers to Apple’s in-house silicon.

His rise to the top job gained momentum last year after the departure of long-time executive and chief operating officer Jeff Williams, according to the BBC.

Having also worked under Steve Jobs, Ternus acknowledged Cook’s influence on his career, calling him a mentor. “I am profoundly grateful for this opportunity to carry Apple’s mission forward,” Ternus said. “I am filled with optimism about what we can achieve in the years to come.”