Apple to Appoint John Ternus as Next CEO
The company said its board of directors unanimously approved the leadership change following a long-term succession planning process. Cook will remain in his current role through the summer and work closely with Ternus to ensure a seamless transition, Apple added.
In a company statement, Cook reflected on his tenure, saying it had been "the greatest privilege" of his life to lead Apple, and describing Ternus as "without question the right person to lead Apple into the future." Ternus, in turn, said he was "profoundly grateful" for the opportunity to guide the company forward.
Cook joined Apple in 1998 and became CEO in 2011. During his tenure, the company’s market capitalization surged from roughly $350 billion to $4 trillion, while annual revenue climbed from $108 billion in fiscal 2011 to more than $416 billion in fiscal 2025.
Ternus began his career at Apple in 2001 on the product design team. He was promoted to vice president of hardware engineering in 2013 and joined the executive team in 2021 as senior vice president of hardware engineering, according to the company.
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