Tim Cook will step down from the Apple chief executive officer (CEO) post he has held for 15 years, and John Ternus, a hardware engineer by training, will take the helm.
Cook said on the 31st of last month (local time) on X (formerly Twitter), "On my last day as CEO, I send my deep love to the Apple community," and added, "My title will change starting tomorrow, but my love for Apple will not."
In a letter sent to employees the same day, he quoted Apple co-founder Steve Jobs, assessing the past 15 years by saying, "We put a dent in the universe." He then said the achievements he made were thanks to the employees and called his time leading Apple "the privilege of a lifetime."
Regarding successor Ternus, he expressed confidence, saying he was relieved to hand over control to someone with outstanding capabilities. On his decision to step down as CEO, he noted he felt "completely at peace."
Cook, who became CEO in Aug. 2011, succeeding Jobs, strengthened the supply chain and services business and built Apple Watch and AirPods into core product lines. During his tenure, Apple's market capitalization grew more than tenfold from about $350 billion to $4.6 trillion. Starting on the 1st, Cook will serve as executive chair of the board and continue to handle external affairs, including policy consultations with governments in the United States and other countries.
Ternus, who joined Apple in 2001, is a hardware expert who studied mechanical engineering at the University of Pennsylvania. Since 2021, he has served as senior vice president of hardware engineering, overseeing development of major products including iPhone, iPad and Mac.
Ternus faces the task of boosting artificial intelligence (AI) capabilities, which are seen as lagging behind competitors, and overhauling the China-centered supply chain amid U.S.-China tensions. He is expected to make his first official appearance since becoming CEO at the new product launch event on the 9th.