Tim Cook stepping down as Apple chief for new position
Apple has tapped insider John Ternus as its next CEO “to lead the company after longtime hardware chief Tim Cook,” as the iPhone maker prepares for an industry shift spurred by artificial intelligence.
Ternus, who joined Apple in 2001, most recently led the company’s hardware engineering efforts and played a key role in revitalizing sales of products that have gained market share in recent years, such as Apple’s Mac computers.
Cook, who has led Apple since 2011, will become chairman of the company’s board of directors, the company said on Monday.
Ternus, 50, is the same age Cook was when he took over CEO duties from Apple co-founder Steve Jobs. It last showed off the company’s iPhone Air last fall; This was the iPhone’s biggest refresh since 2017 and a major proving ground for several new chips.
Ternus, who helped launch now-ubiquitous products like iPads and AirPods, will be tasked with helping Apple navigate a technology landscape being upended by artificial intelligence after losing the crown of the world’s most valuable company to Nvidia.
Ternus will have to fend off competitors like Nvidia, which has announced its own personal computer and is working on chips that could power laptops, as well as Meta Platforms, whose augmented reality glasses have become a surprise hit with just a fraction of the capabilities and price tag of Apple’s Vision Pro headset.
“The introduction of Mr. Ternus shows that the company will focus on new hardware devices such as foldable phones, glasses, VR devices and AI pins,” said Gil Luria, managing director of DA Davidson & Co.
The company said that Cook, who presented a special gold plaque to US President Donald Trump, will continue to meet with policy makers.
In selecting its CEO, Apple transitions Ternus from a supply chain guru who helped transform Apple into a global brand that produces hundreds of millions of units annually into a leader who has long focused on design and products.
Ben Bajarin, CEO of technology consulting firm Creative Strategies, said Ternus is well-liked within Apple and will “bring new energy.”
Separately, Apple said it has appointed Johny Srouji, who oversees Apple’s custom chip and sensor designs, as head of hardware.
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