Tim Cook Announces Exit As Apple CEO After 15 Years, Appoints John Ternus To Lead Tech Giant
Apple announced Monday that Tim Cook will step down as CEO after 15 years, with hardware chief John Ternus to succeed him, with Cook calling leading Apple the greatest privilege of his life.
- Republic Business
- 4 min read
After a 15-year run that saw Apple’s market value climb by more than $3.6 trillion on the back of iPhone-driven growth, Chief Executive Officer (CEO) Tim Cook is set to step down from the role he took over from the late Steve Jobs. The 65-year-old will hand the top job to John Ternus, Apple’s head of hardware engineering, on 1 September. The company confirmed that Cook will not leave the Cupertino company entirely and will stay on as executive chairman, mirroring the handover approaches seen when Jeff Bezos departed as Amazon’s chief executive and Reed Hastings ended his tenure at Netflix.
However, the sudden announcement about Tim Cook has left the tech industry surprised. The company's declaration to appoint John Ternus, Apple’s senior vice president of hardware engineering, as Cook's successor has sent a strong message. Ternus has been a key figure behind the development of products ranging from the iPhone to the Mac, and his appointment signals a continued emphasis on hardware innovation and product design.
In a statement, Cook described his time leading Apple as the greatest privilege of his life. The transition was an important moment for the world’s most valuable public company, which has grown in scale and influence under his stewardship.
Cook Calls Leading Apple ‘Greatest Privilege’
Announcing his decision, Tim Cook paid tribute to the people he has worked alongside since taking over from Steve Jobs in 2011. “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,” he said.
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He added that his affection for the firm runs deep, noting, “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.”
It is pertinent to mention that, under Cook’s leadership, Apple became the first company to reach a $3 trillion market valuation, expanded its services business, and global supply chains. His tenure also saw the launch of the Apple Watch, AirPods, and the company’s push into areas such as health, privacy, and environmental sustainability.
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Here's What Tim Cook Said:
"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."
John Ternus To Take Over As Next Chief Executive
Apple has declared that John Ternus will step into the CEO role following Cook’s departure. Ternus currently serves as senior vice president of hardware engineering, overseeing the teams responsible for iPhone, iPad, Mac, AirPods, and other flagship devices.
Widely regarded within the company as a meticulous engineer and steady operator, Ternus has appeared at numerous product keynotes and is credited with helping Apple transition its Mac line to in-house silicon. His elevation suggested the board is prioritising continuity in product execution and engineering culture.
Though the tech giant has not yet specified an exact date for the handover, Monday’s announcement makes clear that a formal succession process is underway. Investors, employees, and customers will now look to Ternus to guide Apple through its next chapter, including the growth of artificial intelligence, mixed-reality devices, and services.
For Tim Cook, the departure closes a 26-year career at Apple, 15 of them as CEO. While he did not outline his next steps, his farewell message focused firmly on gratitude. The tech analysts stated that for many inside the firm, his legacy will be defined not just by financial milestones, but by the way he balanced scale with a stated commitment to privacy, accessibility, and values-led leadership.