John Ternus, senior vice president of hardware engineering, will succeed Tim Cook as CEO on September 1, with Cook transitioning to executive chairman.
11:13 AM
Apple announced on Monday that John Ternus, senior vice president of hardware engineering, will succeed Tim Cook as chief executive officer, effective September 1. Cook, 65, will assume the role of executive chairman on the same date.
Ternus will join Apple's board of directors when he becomes CEO. The company's nonexecutive chairman Arthur Levinson will become lead independent director at that time. Cook will continue in his role as CEO through the summer while working closely with Ternus to ensure a smooth transition, Apple said in a press release. The board made the appointment on Friday.
This marks the first CEO transition for Apple since Cook succeeded Steve Jobs in 2011, shortly before Jobs' death. Ternus will become Apple's eighth CEO.
Ternus, 50, is a native of California who joined Apple's product design team in 2001 and became vice president of hardware engineering in 2013. He joined the company's executive team in 2021 when he assumed his current position as senior vice president of hardware engineering, reporting to Cook. Before Apple, Ternus worked in engineering roles at other technology companies.
In a statement, Cook praised Ternus, saying it has been "the greatest privilege of my life to be the CEO of Apple." Cook described Ternus as having "an engineer's mind and an innovator's soul" and called him "a visionary." Cook said Ternus's contributions to Apple over the past 25 years are "too many to count" and that he is "without question the right person to lead Apple into the future."
Ternus responded in a statement, saying he was "deeply grateful for the opportunity to lead Apple's mission." He noted that he has spent most of his career at the company and was fortunate to work under Steve Jobs and have Tim Cook as a mentor.
Johny Srouji, who was elevated to chief hardware officer from senior vice president on Monday, will assume Ternus's former position. Srouji has been instrumental in Apple's development of custom computer chips.
Under Cook's leadership since 2011, Apple's market capitalization grew from around $350 billion to more than $4 trillion. More than 2.5 billion people around the world used an Apple device as of January, according to the company. Cook took over the CEO role weeks before Jobs' death in 2011 and has led the company for nearly 15 years.
The coming months will see Cook and Ternus work closely together to ensure continuity in the company's strategy and long-term vision.
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