Ternus, currently Senior Vice President of Hardware Engineering, will also join Apple’s board of directors upon assuming the CEO role. At the same time, Arthur Levinson will move into the position of lead independent director.
“Cook will continue in his role as CEO through the summer as he works closely with Ternus on a smooth transition,” Apple said in a press release. The company confirmed that the board approved the appointment on Friday.
This marks Apple’s first CEO transition since Cook succeeded Steve Jobs in 2011. Ternus will become the company’s 8th CEO.
“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,” Cook said in a statement. “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 also announced that Johny Srouji will become Chief Hardware Officer, expanding his role to lead hardware engineering.
Under Cook’s leadership, it’s market cap вырос more than 20-fold, reaching $4 trillion. The company reported revenue of over $400 billion in its latest fiscal year. Cook earned $74.6 million in total compensation last year, including a $3 million base salary, while his net worth is estimated at nearly $3 billion.
As Cook steps aside, It faces multiple challenges, including a complex global supply chain, geopolitical pressures, tariffs linked to policies under Donald Trump, and rising memory costs driven by demand for AI chips.
Ternus, 50, has spent nearly half his career at Apple, joining in 2001 after working at Virtual Research Systems. He has overseen hardware engineering across major products including iPhone, iPad, Mac, Apple Watch, AirPods, and Vision Pro.
Cook’s tenure also saw it expand into wearables with products like Apple Watch, AirPods, and the Vision Pro headset, though the latter has struggled to gain widespread adoption since its 2024 launch.
Looking ahead, one of Ternus’ biggest challenges will be advancing it’s artificial intelligence strategy, where it has lagged competitors. The company has faced criticism for delays in upgrading Siri and for limited progress in cutting-edge AI capabilities.
Apple plans to launch an updated Siri powered by Google’s Gemini AI model later this year. Meanwhile, former Apple design chief Jony Ive, who left in 2019, has since joined OpenAI following the acquisition of his startup in a $6.4 billion all-equity deal in May 2025.
Cook also played a key role in shaping it’s public and policy positioning. He advocated for global privacy protections and notably resisted U.S. government pressure during the San Bernardino iPhone case, arguing that unlocking an encrypted device would compromise user privacy.
In recent years, Cook engaged closely with policymakers, including meetings at the White House, where it announced plans to invest $600 billion in the U.S. over 5 years.
Despite recent speculation about his retirement, Cook had publicly dismissed such reports. Speaking earlier, he said, “No, I didn’t say that. I haven’t said that. I love what I do deeply. Twenty-eight years ago, I walked into Apple, and I’ve loved every day of it since.”
With the transition underway, all eyes are now on Ternus as he prepares to lead Apple into its next phase, with innovation and AI expected to take center stage.
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