Apple’s senior vice president of hardware engineering, John Ternus, is expected to take over as CEO of the tech maker later this year, following the current chief executive. Tim Cook announced his resignation on Monday.
Cook will become executive chairman of the company’s board of directors. The company said the transition followed a “thoughtful long-term succession planning process” and was unanimously approved by the board of directors.
“It has been the greatest privilege of my life to be the CEO of Apple and to be able to lead such an extraordinary company,” Cook said in a statement.
“I love Apple with all my being and am so grateful to have had the opportunity to work with a team of such resourceful, innovative, creative and deeply caring people who have demonstrated an unwavering dedication to enriching the lives of our customers and creating the best products and services in the world,” he added.
Apple CEO Tim Cook will step down in a major leadership shakeup and his successor is named.
John Ternus will become CEO of Apple on September 1, 2026, while Tim Cook will become executive chairman of Apple. (Reuters/Reuters)
The leadership shakeup marks the company’s first CEO change in 15 years, when Cook replaced Apple co-founder Steve Jobs.
Ternus will take over as CEO on September 1, leading the company into its next phase of innovation. He will also join the board of directors upon taking office.
“I am deeply grateful for this opportunity to advance Apple’s mission,” Ternus said in a statement. “Having spent almost my entire career at Apple, I was fortunate to work under Steve Jobs and have Tim Cook as a mentor. It’s been a privilege to help shape products and experiences that have so changed the way we interact with the world and each other.
He joined Apple’s product design team in 2001 and became vice president of hardware engineering in 2013. Eight years later, he joined the executive team as senior vice president of hardware engineering, where he oversaw work on many of the company’s projects. flagship products on iPhone, Mac, iPad, AirPods and Apple Watch.
Ternus also recently led the team behind the new MacBook Neo and the redesigned iPhone 17 line. Apple credits his leadership with advancements in AirPods, including active noise cancellation and capabilities that allow them to function as an all-in-one hearing health system, including over-the-counter hearing aid features.
Additionally, he has led efforts focused on sustainability, material innovation and sustainability, including the use of recycled aluminum and new manufacturing techniques. Ternus also played a key role in Apple’s transition to in-house silicon.
John Ternus will take over as CEO of Apple on September 1 (Adam Gray/Bloomberg via Getty Images / Getty Images)
“I am filled with optimism about what we can achieve in the years to come, and I am so happy to know that the most talented people in the world are here at Apple, committed to being part of something bigger than any one of us,” he said. “I am honored to take on this role and promise to lead with the values and vision that have defined this special place for half a century.”
Before join AppleTernus worked as a mechanical engineer at Virtual Research Systems. He earned a bachelor’s degree in mechanical engineering from the University of Pennsylvania.
Cook praised Ternus as having “the mind of an engineer, the soul of an innovator and the heart to lead with integrity and honor.”
“He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is undoubtedly the right person to lead Apple into the future,” Cook said. “I could not have more confidence in his abilities and character, and I look forward to working closely with him on this transition and in my new role as Executive Chairman.”
Apple shares fell slightly — less than 1% — after hours following the news of the management shakeup, which some analysts said was not surprising.
“This transition should not come as a shock, since Cook has reached retirement age and Ternus has long been seen as his successor,” Jacob Bourne, technology analyst at EMERKETER, told Reuters. “The fact that Cook will remain CEO until September before continuing as executive chairman should provide some comfort to investors, even if markets react negatively to near-term uncertainty.”
LEADERSHIP CHANGE AT APPLE SPARKS INDUSTRY AND REACTIONS TO WALL STREET AS A COOK TRANSITIONS ROLES
Tim Cook said that “being the CEO of Apple has been the greatest privilege of my life.” (David Paul Morris/Bloomberg via Getty Images / Getty Images)
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Rick Meckler, a partner at Cherry Lane Investments, told the outlet he was “not surprised that the initial reaction was that the stock was a little lower.”
Art Hogan, chief market strategist at B. Riley Wealth, also said Cook “would never leave if the numbers were going to be bad, so I think that’s the important thing.”
“They’re about to release some numbers, and you know they’re going to be good,” he added. “You know the guidance is going to be positive. And you know we’re going to start hearing more about how they’re going to use artificial intelligence to improve their products.”
Ternus will take over Apple at a time when the company is facing antitrust scrutiny around the world. That includes a landmark case brought by the U.S. Department of Justice and more than a dozen states, alleging that Apple maintained an illegal monopoly by using its control of the iPhone to stifle competition. European and Asian governments have also sought to penalize Apple for allegedly exploiting its dominant position in the industry.
