• Apple’s incoming CEO John Ternus
Apple has named John Ternus as its new chief executive to replace Tim Cook who is stepping down after 15 years of leading the technology giant.
Ternus, the current head of hardware engineering who has been at Apple for 25 years, will take over on 1 September and Cook will become executive chairman.
BBC reports that Cook has been chief executive of Apple since 2011 after co-founder Steve Jobs resigned for health reasons, shortly before his death.
Cook will stay as chief executive through the summer to work with Ternus on the transition after which he will “assist with certain aspects of the company, including engaging with policymakers around the world”.
Cook’s decision to step away from the chief executive role follows months of speculation that Apple – which has just celebrated its 50th anniversary – was looking for a successor.
He described the job as “the greatest privilege of my life” and during his tenure he led the company to become one of the most valuable in the world.In 2018, Apple became the first public company to be valued at $1 trillion (£740bn). It is now worth $4 trillion.
Cook described Ternus as a “visionary” executive with “the mind of an engineer, the soul of an innovator and the heart to lead with integrity and honour”.
