Apple names John Ternus as CEO to replace Tim Cook, who will become chairman

Apple mentioned on Monday that John Ternus is succeeding Tim Cook as CEO, with Cook assuming the position of govt chairman on Sept. 1.

Ternus, a senior vp of {hardware} engineering, will be a part of Apple’s board of administrators when he turns into chief. Apple’s non-executive chairman Arthur Levinson will become the iPhone-maker’s lead unbiased director on that date.

“Cook will continue in his role as CEO through the summer as he works closely with Ternus on a smooth transition,” Apple mentioned in a press release.

It’s the primary CEO transition for Apple since Cook, now 65, succeeded Steve Jobs on the helm in 2011, shortly earlier than Jobs’ demise. Ternus will become Apple’s eighth CEO.

“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 mentioned 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.”

Apple’s market cap elevated by roughly 24-fold on Cook’s watch, closing on Monday at $4 trillion.

During his nearly 15-year tenure, Cook oversaw Apple’s bounce into wearable expertise, with the rollout of the Apple Watch, AirPods and the digital actuality headset Vision Pro, which has struggled to discover market adoption since its launch in 2024.

Ternus, who’s about 15 years youthful than Cook, has been Apple’s {hardware} boss and has labored at Apple for about half his life, becoming a member of simply 4 years after he graduated from the University of Pennsylvania with a level in mechanical engineering. He’s been broadly considered as subsequent in line, with current profiles in The New York Times and Bloomberg. His portfolio has included oversight of the {hardware} engineering groups behind the iPhone, iPad, Mac, Apple Watch, AirPods and Vision Pro.

However, Apple faces quite a few challenges, together with an more and more complicated provide chain, geopolitical tensions, the Trump administration’s tariffs and a memory crunch tied to hovering demand for AI chips.

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WATCH: Apple executives Johnny Srouji and John Ternus on its growing chip business.