Apple, makers of the iPhone and iPad, said on Monday that Mr Tim Cook will step down as the company’s chief executive, after 15 years at the helm. Senior Vice President of Hardware Engineering, Mr John Ternus, will take the top executive position on September 1.
Mr Cook, who succeeded the late Steve Jobs in 2011, will not leave Apple but will remain at the company as executive chairman, and Mr Ternus will join Apple’s board of directors.
Mr Arthur Levinson, who has served as Apple’s non-executive chairman for the past 15 years, will become lead independent director, also effective September 1.
Mr Cook expanded his predecessor’s vision after he died of pancreatic cancer just six weeks after formally handing off the job. He grew Apple into a $4 trillion business with annual revenue that has more than quadrupled on his watch.
A statement said Mr Cook turned Apple Services into a business exceeding $100 billion annually and credits him with creating the flourishing wearables category at Apple.
“It has been the greatest privilege of my life to be the CEO of Apple,” Mr Cook said in the statement on Monday. “I love Apple with all of my being, and I am so grateful to have had the opportunity to work with a team of such ingenious, innovative, creative, and deeply caring people who have been unwavering in their dedication to enriching the lives of our customers.”
Mr Ternus, who joined Apple in 2001, has played a central role in reviving products such as the Mac, which has gained market share against personal computers. Though he has kept a low public profile, he has been deeply involved in shaping Apple’s biggest products, such as iPads and AirPods.
The incoming CEO, Mr Ternus, said: “Having spent almost my entire career at Apple, I have been lucky to have worked under Steve Jobs and to have had Tim Cook as my mentor,” he said. “I am humbled to step into this role, and I promise to lead with the values and vision that have come to define this special place for half a century.”
On his part, Mr Cook said of his successor, “John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honour,” he said. “He is without question the right person to lead Apple into the future.”