Tim Cook is stepping down as Apple's chief executive officer after 15 years at the helm of the technology company, with John Ternus set to succeed him as the new CEO, Apple announced.
Ternus, who currently serves as Apple's senior vice president of hardware engineering, will take over leadership of the Cupertino-based company that has become one of the world's most valuable corporations under Cook's tenure.
Cook's 15-Year Leadership
Cook assumed the role of Apple CEO in August 2011, taking over from company co-founder Steve Jobs, who died later that year. During his tenure, Cook oversaw the launch of multiple product categories including the Apple Watch, AirPods, and various iterations of the iPhone, iPad, and Mac computer lines.
Under Cook's leadership, Apple became the first U.S. company to reach a $1 trillion market valuation in 2018, later surpassing $2 trillion and briefly touching $3 trillion in market capitalization.
Ternus Takes the Helm
John Ternus has been with Apple since 2001 and has served as senior vice president of hardware engineering, overseeing the development of iPhone, iPad, and other key Apple products. He has been instrumental in the company's transition to its own silicon chips, including the M-series processors that now power Mac computers and iPads.
Ternus joined Apple as a product design engineer and has worked his way up through the organization's hardware division. He played key roles in the development of various iPhone generations and the company's shift away from Intel processors to its own custom-designed chips.
The leadership transition represents a significant moment for Apple, as Cook was only the second CEO in the company's modern era following Jobs' death. The timing and specific details of the transition have not been detailed beyond the company's announcement of Ternus as Cook's successor.
