Tim Cook to step down as CEO of Apple in September; successor named
A veteran Apple employee has been tapped as its next chief executive.
The company announced that John Ternus, senior VP of hardware engineering, will succeed Tim Cook as CEO, with the move effective Sept. 1. Cook, who will take on the role of executive chairman of Apple’s board, will continue in his role as CEO through the summer as he works closely with Ternus on a smooth transition. As executive chairman, Cook will assist with certain aspects of the company, including engaging with policymakers around the world.
The transition, which was approved unanimously by the company’s board of directors, follows a thoughtful, long-term succession planning process, Apple said.
Cook joined Apple in 1998, and was named CEO in 2011, succeeding Steve Jobs shortly before Jobs’ death. He has overseen the introduction of numerous products and services, including new categories like Apple Watch, AirPods and Apple Vision Pro, and services ranging from iCloud and Apple Pay to Apple TV and Apple Music. Under his leadership Apple has grown from a market capitalization of approximately $350 billion to $4 trillion.
“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," Cook said. "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. John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor.”
Ternus joined Apple’s product design team in 2001 and became a VP of hardware engineering in 2013, and joined the executive team in 2021 as senior VP of hardware engineering. Throughout his tenure at Apple, Ternus has overseen hardware engineering work on a variety of groundbreaking products across every category. He 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.
“I am profoundly grateful for this opportunity to carry Apple’s mission forward,” said Ternus. “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."
Arthur Levinson, who has been Apple’s non-executive chairman for the past 15 years, will become its lead independent director on Sept. 1. Ternus will join the board of directors, also effective Sept. 1.