Tim Cook will step down as chief executive of Apple on September 1, bringing to an end his 15-year tenure at the helm of one of the world’s most valuable companies.
Cook, who took over from Steve Jobs in 2011, will transition to the role of executive chairman of Apple’s board, the company confirmed. The move is part of what Apple described as a «thoughtful, long-term succession planning process.»
The company has named John Ternus, currently senior vice president of hardware engineering, as Cook’s successor. Ternus has played a key role in the development of Apple’s flagship products but remains relatively unknown outside the technology industry.
Cook’s leadership oversaw a period of significant growth for Apple, including the expansion of its services business and continued dominance in consumer electronics. His departure marks a major transition for the company as it looks to its next phase under new leadership.
