(KRON) — One of Silicon Valley’s biggest tech titans, Tim Cook, announced he is stepping down as CEO of Apple.
Cook served as Apple’s chief executive officer since 2011. Before that, he worked as chief operating officer under Steve Jobs.
Apple’s new CEO was selected from within the Cupertino-headquartered company. On Monday, a spokesperson for Apple announced, “Tim Cook will become executive chairman of Apple’s board of directors and John Ternus, senior vice president of Hardware Engineering, will become Apple’s next chief executive officer effective on September 1. The transition, which was approved unanimously by the Board of Directors, follows a thoughtful, long-term succession planning process.”
Apple CEO Tim Cook speaks on the campus of Apple’s headquarters in Cupertino on Sept. 7, 2022. (AP Photo/Jeff Chiu, File)
In his new role as executive chairman, Cook will be tasked with “engaging with policymakers around the world” for one of the world’s most valuable companies, according to Apple.
Cook wrote in a statement, “It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lead such an extraordinary company. 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 and creating the best products and services in the world.”
Apple CEO Tim Cook holds new iPhones during an announcement of new products at Apple Park on Tuesday, Sept. 9, 2025, in Cupertino, Calif. (AP Photo/Godofredo A. Vásquez)
The 65-year-old billionaire joined Apple in 1998. During Cook’s 15 years as CEO, the company launched wildly popular products including Apple Watch and AirPods, as well as services iCloud, Apple Pay, Apple TV, and Apple Music.
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“Under Cook’s leadership Apple has grown from a market capitalization of approximately $350 billion to $4 trillion, representing a more than 1,000% increase, and yearly revenue has nearly quadrupled, from $108 billion in fiscal year 2011 to more than $416 billion in fiscal year 2025,” the company’s spokesperson wrote.
John Ternus, Apple’s V.P. of Hardware Engineering, talks about the iPad Pro Oct. 30, 2018. (AP Photo/Bebeto Matthews)
Ternus was hired onto Apple’s product design team in 2001 and was promoted to vice president of Hardware Engineering in 2013. Last fall, Ternus’ hardware engineering team redefined Apple’s iPhone lineup with the launches of iPhone 17 Pro, iPhone Air, and iPhone 17.
Cook described Ternus as a visionary who has “the mind of an engineer, the soul of an innovator, and the heart to lead with integrity.”
Ternus wrote in a statement Monday, “The most talented people on earth are here at Apple, determined to be part of something bigger than any one of us. I am humbled to step into this role.”