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Apple has announced that John Ternus, currently Senior Vice President of Hardware Engineering, will become the company’s Chief Executive Officer on September 1, making him the eighth CEO in Apple’s history. Following the transition, Tim Cook will move to the role of Executive Chairman, ending nearly 15 years as CEO since taking over from co-founder Steve Jobs in 2011.
In an interview on ABC’s Good Morning America, Cook dismissed retirement rumors, saying, “I have never said that. I truly love my work. Almost 30 years ago I joined Apple, and since then, every day I have maintained that passion.”
Apple said Cook will continue to run the company while working closely with Ternus to ensure a smooth transition, according to a press release. The board approved the appointment last Friday.
John Ternus will assume the CEO position on September 1. Tim Cook will shift to Executive Chairman after the transition, concluding his tenure as CEO that began in 2011.
Over more than a decade under Cook’s leadership, Apple has delivered rare growth. The company’s market capitalization has increased more than 20x, and it closed Monday around $4 trillion. Revenue has nearly quadrupled to exceed $400 billion in the latest fiscal year.
Cook has also helped shape new growth areas, including wearables. Apple’s portfolio has expanded through products such as Apple Watch, AirPods, and Vision Pro, though Vision Pro has not yet established a clear market position since its 2024 launch.
CNBC describes Cook in Silicon Valley as the “Master of Operations,” citing his restructuring and upgrades to Apple’s supply chain after he joined the company in 1998 as Vice President of Worldwide Sales and Operations. He became Steve Jobs’s right-hand man and was named Chief Operating Officer in 2005 before taking over as CEO in 2011.
Before Apple, Cook spent 12 years at IBM, helping reorganize computer manufacturing, and held the role of Vice President of Corporate Materials at Compaq. He earned a mechanical engineering degree from Auburn University in 1982 and an MBA from Duke University in 1988.
Last year, Cook’s total compensation reached $74.6 million, including a base salary of $3 million and stock-based incentives, according to filings. Forbes estimates his net worth at nearly $3 billion.
Observers have also described Cook as a “tech diplomat,” noting that he meets with leaders worldwide to defend Apple’s interests. The content also cites his advocacy for privacy standards online, including a 2016 confrontation with the U.S. government over whether Apple should assist in unlocking an encrypted iPhone tied to the San Bernardino shooting. Cook refused the request, arguing it would threaten user privacy, and the FBI later found another way to access the device.
Last August, Cook visited the White House and appeared with President Trump to announce plans for Apple to invest $600 billion in the U.S. over the next five years. At the event, Trump read Apple’s investment commitments and expressed support.
The leadership change comes as Apple faces challenges including a more complex supply chain, geopolitical tensions, and AI competition.
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