Tim Cook steps down as Apple CEO after 15 years; John Ternus takes the helm

Tim Cook’s 15-year run as Apple’s chief executive officer came to a close on August 31, with hardware engineering chief John Ternus taking over as CEO effective September 1, the most significant leadership change at the world’s most valuable technology company since Cook himself succeeded co-founder Steve Jobs in August 2011.

Apple confirmed the succession in an official statement on its newsroom back in April, giving markets, employees and the wider industry more than four months to prepare before the handover actually took effect.

The board approved the transition unanimously, and Cook remained CEO through the summer to work closely with Ternus on what Apple described as a smooth handoff, with no interim leadership gap between the two men.

“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 said in Apple’s statement announcing the move.

“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.”

Cook also offered a direct endorsement of his successor: “John Ternus 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.”

Arthur Levinson, Apple’s non-executive chairman, credited Cook’s tenure with transforming the company: “Tim’s unprecedented and outstanding leadership has transformed Apple into the world’s best company. He’s introduced groundbreaking products and services time and again, and his integrity and values are infused into everything Apple does. On behalf of the entire board of directors, we are incredibly grateful for his countless contributions to Apple and the world, and we are thrilled he will now be executive chairman.”

Ternus, 50, joined Apple in 2001 as part of its product design team after graduating from the University of Pennsylvania with a degree in mechanical engineering.

He rose to vice president of hardware engineering in 2013 and senior vice president in 2021, overseeing development of the Mac, iPad, iPhone and Apple Watch, including the unveiling of Apple’s first in-house M1 chip in 2020. He will also join Apple’s board of directors.

“I am humbled to step into this role, and I promise to lead with the values and vision that have come to define this special place,” Ternus said.

Cook does not exit the company entirely. As executive chairman, Apple said he will “assist with certain aspects of the company, including engaging with policymakers around the world.”

Cook’s tenure, which began under the shadow of one of the most iconic founders in business history, saw Apple become the first publicly traded U.S. company to reach a $1 trillion market cap and, more recently, cross $4 trillion, while launching the Apple Watch, AirPods, Apple Pay and Apple TV+, and completing the Mac’s multi-year transition to Apple-designed silicon.

Ternus inherits the role at a pivotal moment, as Apple works to close the gap with rivals Microsoft and Google on artificial intelligence ahead of a major product event slated for September 9.