(Photo by Kevin Dietsch/Getty Images)
The rumors are true. Tim Cook will step down as Apple CEO, and hardware engineering chief John Ternus will take over and lead the fabled iPhone and MacBook maker.
The leadership change, announced late on Monday, will take effect on Sept. 1. "The transition, which was approved unanimously by the Board of Directors, follows a thoughtful, long-term succession planning process,” Apple says.
On Ternus taking the reins, the 65-year-old Cook said Apple's next CEO “has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor. He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future.”
Ternus didn’t reveal how he might operate as CEO. For now, he said: “I promise to lead with the values and vision that have come to define this special place for half a century.”
Ternus joined the company in 2001 on the product design team before becoming vice president of Hardware Engineering in 2013, and then SVP in 2021.
To take over Ternus's responsibilities on the hardware side, Apple announced that Johny Srouji, perhaps best known for his iPhone and MacBook chip architecture work, will become chief hardware officer.
There has been much speculation over who might take over for Cook. Selecting Ternus may suggest the company is prioritizing hardware over software amid the tech industry’s AI scramble. Apple noted that Ternus “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.”
Meanwhile, Cook will stay on as executive chairman of Apple’s board. Current Chairman Arthur Levinson will become an independent director in September. “As executive chairman, Cook will assist with certain aspects of the company, including engaging with policymakers around the world,” the company adds.
Cook has been leading Apple for nearly 15 years. He was named CEO in August 2011 after company co-founder Steve Jobs resigned due to his battle with cancer; Jobs died weeks later. Cook attempted to follow a roadmap Jobs oversaw before his death, all the while presiding over Apple’s massive global growth and expansion into new product categories, including smartwatches and VR headsets.