Tim Cook to step down as CEO of Apple with John Ternus to succeed him
Tim Cook, who succeeded Apple co-founder Steve Jobs, has been CEO since 2011.
Apple has announced that Tim Cook will step down as the company's CEO, with head of hardware engineering John Ternus to succeed him.
Mr Cook will stay at the company in the role of executive chair.
Mr Cook, who succeeded Apple co-founder Steve Jobs, has been CEO since 2011. He has overseen the global expansion of the company and its steady series of new, updated devices, though he never attained the same tech visionary status as Mr Jobs.
Mr Cook’s tenure as CEO has marked a lucrative period of expansion for Apple as it entrenched its products in society and sought out new markets, in particular the iPhone. Apple reported earlier this year it had its best-ever quarter for iPhone sales, driven by renewed demand in China.
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The company’s market capitalisation grew from around $350bn (€267bn) at the start of Mr Cook’s time to over $4tn (€3.4tn) today.
In naming Mr Ternus chief executive, Apple is shifting from Mr Cook, a supply chain guru who helped turn Apple into a global brand that churns out hundreds of millions of units per year, to a leader who has long focused on design and products.
Mr Ternus will inherit an immensely successful company that nevertheless faces increasing questions over its future. Apple has faced close scrutiny in the past year as investors have questioned how it plans to integrate AI into its products.
The company has not been as prominent a player in the AI boom as some of its competitors, choosing to sometimes integrate third party AI tools into its products such as Siri. Though its core businesses of phone and computer sales remain strong, its new products like the Vision Pro have failed to inspire consumer demand.
“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," Mr Cook said in a press release.
"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 who have been unwavering in their dedication to enriching the lives of our customers and creating the best products and services in the world.”
Ben Bajarin, CEO of technology consulting firm Creative Strategies, said Mr Ternus is well-liked within Apple "and will bring fresh energy".
In a statement, Apple said Mr Cook will continue in his role as CEO through the summer "as he works closely with Ternus on a smooth transition". As executive chairman, Mr Cook will assist "with certain aspects of the company, including engaging with policymakers around the world".
Mr Cook said Mr Ternus "has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honour".
"He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future. I could not be more confident in his abilities and his character, and I look forward to working closely with him on this transition and in my new role as executive chairman."
Mr Ternus said he is "profoundly grateful" for the opportunity at Apple.
“Having spent almost my entire career at Apple, I have been lucky to have worked under Steve Jobs and to have had Tim Cook as my mentor.
"It has been a privilege to help shape the products and experiences that have changed so much of how we interact with the world and with one another. I am filled with optimism about what we can achieve in the years to come, and I am so happy to know that the most talented people on earth are here at Apple, determined to be part of something bigger than any one of us.
"I am humbled to step into this role, and I promise to lead with the values and vision that have come to define this special place for half a century."
Separately, Apple said that Johny Srouji, who has overseen Apple's custom chip and sensor designs, has been named chief hardware officer.
According to Apple, Mr Ternus joined the company's product design team in 2001 and became a vice president of hardware engineering in 2013.
He joined the executive team in 2021 as senior vice president of hardware engineering. Throughout his tenure at Apple, Mr Ternus has overseen hardware engineering work on a variety of products and was "instrumental in the introduction of multiple new product lines, including iPad and AirPods, as well as many generations of products across iPhone, Mac, and Apple Watch".
Apple said Mr Ternus’s work on Mac has helped the category become more powerful and more popular globally than at any time in its 40-year history, including the recent introduction of MacBook Neo
Last year, his team’s efforts "were on full display with the introduction of a redefined iPhone lineup", including the iPhone 17 Pro and Pro Max, the iPhone Air, and the iPhone 17. His team also drove advancements in AirPods
The statement added: "Ternus led much of the company’s focus in areas like reliability and durability, introducing new techniques that have made Apple products remarkably resilient.
"He has also driven much of Apple’s innovation in materials and hardware design that have reduced the carbon footprint of its products, including the creation of a new, recycled aluminum compound that has been introduced across multiple product lines, the use of 3-D printed titanium in Apple Watch Ultra 3, and innovations in repairability that have increased the lifespans of several Apple products."
Prior to Apple, Mr Ternus worked as a mechanical engineer at Virtual Research Systems. He holds a bachelor’s degree in Mechanical Engineering from the University of Pennsylvania.
- The Guardian/Reuters
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