Apple Inc. announced on Friday that Tim Cook will step down as chief executive officer effective September 1, with John Ternus taking over the role. Cook, who has led the company since August 2011, will remain on Apple's board of directors. Ternus currently serves as Apple's senior vice president of hardware engineering and has been with the company since 2008.
Cook's departure marks the end of an era for Apple, during which the company expanded its global footprint and became the world's most valuable publicly traded company. Under his leadership, Apple's market capitalization grew from around $350 billion to over $3 trillion at its peak. The company also launched several high-profile products, including the iPhone 15 series, Vision Pro headset, and Apple Intelligence AI features.
Ternus joined Apple as vice president of operations in 2008 and later oversaw the development of key products like the iPhone and Mac. His promotion follows Apple's recent reorganization of its hardware leadership. Analysts note that Ternus has played a central role in Apple's supply chain and manufacturing strategies, which have been critical to the company's efficiency and innovation.
Apple's board has unanimously approved Ternus' appointment. A company spokesperson said Cook will continue to advise the company on strategic matters. The transition is expected to be smooth, with Cook remaining involved in major decisions until his departure.
Source: e24.no