Apple named long-time hardware chief John Ternus as its next chief executive, and tim cook will move into the role of executive chairman as Ternus assumes the CEO post on September 1.
Cook led Apple for 15 years after succeeding Steve Jobs in 2011 and oversaw a near $3.6 trillion rise in market value as reported during coverage of the transition.
Ternus, 50, joined Apple in 2001, became vice president of hardware engineering in 2013, joined the executive team in 2021 and will join the board on September 1.
Challenges And Profile
Ternus is widely seen inside Apple as a product-focused leader who has overseen hardware teams for iPhone, iPad, Mac, Apple Watch, AirPods and Apple Vision Pro, and he unveiled the iPhone Air last fall.
Industry watchers expect the shift to emphasize product and deeper AI integration as Ternus confronts competition from Nvidia and Meta and pressure in semiconductors, challenges highlighted in transition coverage.
Ternus's minimal LinkedIn lists a Bachelor of Science in Mechanical Engineering from the University of Pennsylvania and shows prior work at Virtual Research Inc, while other coverage refers to Virtual Research Systems.
Tim Cook said, "John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor." Ternus said, "I am profoundly grateful for this opportunity to carry Apple's mission forward."
A report from The Street estimates his net worth in the millions and suggests his current annual base salary is likely around $1 million.
