Tim Cook has announced he will step down as CEO of Apple, with John Ternus set to take over the role.
Cook, who joined Apple in 1998 and has led the company for nearly 15 years after succeeding Steve Jobs, will transition into the position of executive chairman.
He is expected to remain CEO until September 1, when Ternus currently head of hardware engineering will officially assume leadership.
The announcement follows months of speculation about Apple’s succession plans, with Ternus widely viewed as the frontrunner.
In his new role, Cook will continue contributing to the company by advising on key matters, including global policy engagement.
“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.
“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 praised his successor, describing him as a “visionary” and highlighting his innovative mindset.
“He [Ternus] is without question the right person to lead Apple into the future. I could not be more confident in his abilities and his character.”
Ternus, who joined Apple in 2001, has played a key role in developing major products such as the iPad, AirPods, and multiple generations of iPhone, Mac, and Apple Watch.
He acknowledged Cook as a mentor and expressed appreciation for the opportunity to lead the company forward.
“I am filled with optimism about what we can achieve in the years to come,” he added.