Apple has named John Ternus as its new chief executive to replace Tim Cook who is stepping down after 15 years of leading the technology giant.
Ternus, currently the head of hardware engineering who has been at Apple for 25 years, will take over on 1 September and Cook will become executive chairman.
Cook has been chief executive of Apple since 2011 after co-founder Steve Jobs resigned for health reasons, shortly before his death.
Cook will stay as chief executive through the summer to work with Ternus on the transition, after which he will assist with certain aspects of the company, including engaging with policymakers around the world.
Cook's decision to step away from the chief executive role follows months of speculation that Apple was looking for a successor.
He described the job as 'the greatest privilege of my life' and during his tenure led the company to become one of the most valuable in the world. In 2018, Apple became the first public company valued at $1 trillion; it is now worth $4 trillion.
Cook praised Ternus as a 'visionary' executive with 'the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and honour'.
Ternus, who has worked on nearly every major product Apple has released, emerged as a favorite to replace Cook last year. He has also overseen the transition of Mac computer processors to Apple's own silicon. In a statement, he referred to Cook as his 'mentor' and expressed optimism for the future.
Analysts see Ternus’s appointment as a sign that Apple is likely to focus more on hardware innovations and faster product developments, especially in light of criticisms about a lack of differentiation during Cook’s tenure. Ternus is expected to lead the company into new product territories while maintaining the financial stability established by Cook.






















