Tim Cook will step down as Chief Executive Officer of Apple Inc. after nearly 15 years in the role, with John Ternus named as his successor.
The company announced that Cook, who took over leadership from Steve Jobs in 2011, will transition to the position of executive chairman. He is expected to remain CEO until September 1, when Ternus, currently head of hardware engineering, will officially assume the role.
Apple said Cook will continue to support the company in his new capacity, including engaging with global policymakers.
In a statement, Cook described leading Apple as the greatest privilege of his life, expressing gratitude to the company’s workforce for their dedication and innovation over the years.
He also praised Ternus, calling him a visionary leader and expressing confidence in his ability to guide the company into the future.
Ternus, who joined Apple in 2001, has played a key role in the development of several major products, including the iPad, AirPods, and multiple generations of the iPhone, Mac, and Apple Watch.
Reacting to his appointment, Ternus described Cook as a mentor and said he was honoured to take on the responsibility of leading the company, expressing optimism about Apple’s future.