Apple CEO Tim Cook to step down after nearly 15 years; John Ternus named successor
Apple CEO Tim Cook is stepping down after nearly 15 years of leading the company; This marks the end of a transformative era in which Apple’s market value has increased by more than $3.6 trillion.
Cook, who took over from Steve Jobs in 2011, will officially hand over his position as CEO on September 1.
“Being CEO of Apple has been the greatest privilege of my life,” Cook said.
“I love Apple with all my being.”
He will continue to be involved with the company and move into the role of chief executive officer.
John Ternus named new CEO
Apple has named John Ternus, senior vice president of hardware engineering, as Cook’s successor.
Ternus joined Apple in 2001, leading major hardware initiatives and playing a key role in strengthening product lines including Mac computers.
The move reflects a broader shift toward leadership focused on product design and innovation as Apple continues the rise of artificial intelligence, the company said.
Cook’s tenure was defined by operational excellence and global supply chain efficiency, and he helped transform Apple into a mass-market tech giant.
Under Ternus, Apple is expected to focus more on hardware design and product innovation, especially as the technology industry enters a new cycle focused on artificial intelligence.
The era of artificial intelligence drives leadership change
Apple said the leadership transition comes at a pivotal moment as the industry undergoes a transformation driven by artificial intelligence.
Major executive changes announced
In addition to the CEO transition, Apple also announced the appointment of Johny Srouji, who headed Apple’s custom silicon efforts, as chief hardware officer.
Srouji has been central to Apple’s chip development strategy, including the company’s in-house processors used in iPhones, iPads and Macs.
Cook’s legacy
Cook took over Apple during a period of uncertainty following the death of Steve Jobs but oversaw one of the most profitable expansions in corporate history.
It helped solidify the iPhone as Apple’s primary source of revenue as it expanded its services and hardware ecosystems around the world.
Despite being compared to Jobs, Cook is credited with turning Apple into one of the most valuable companies in the world.
Under Ternus’ leadership, Apple is entering a new phase focused on hardware development, AI integration and next-generation product strategy.
The leadership change marks one of the most important transitions in the company’s modern history.
(With input from AP, Reuters)
