New Delhi, April 21 (IANS). There has been a major change in the leadership of American tech company Apple. The company said that from September 1, 2026, Tim Cook will step down as CEO and will be replaced by John Ternes, the current Senior Vice President of Hardware Engineering.
Cook had been leading the company since 2011. Now he will hold the post of Executive Chairman, which is a new post in the company. In this he will interact with global policy makers and cooperate with the company in selected matters.
Apart from this, Arthur Levinson, who has been the non-executive chairman of Apple for the last 15 years, will also take over as lead independent director from the same date.
According to the iPhone maker, Ternus will also join the board of directors from September 1.
“Becoming CEO of Apple has been the greatest privilege of my life,” Cook said in an official statement. He also praised Turnus as a brilliant engineer, an innovator and a person who leads with integrity.
Turnus, 50, started working on Apple’s product design team in 2001 and was gradually promoted to senior vice president in 2021.
He has overseen hardware engineering across Apple’s product portfolio and played a central role in the development of iPads, AirPods, and multiple generations of iPhones and Macs.
Recently, his team launched the ultrathin iPhone Air and the new MacBook Neo.
“I am extremely grateful to have this opportunity to advance Apple’s mission,” Ternes said. He also said that he feels proud to play this role.
Furthermore, under Cook’s leadership, Apple’s market capitalization grew from approximately $350 billion to $4 trillion, while annual revenues nearly quadrupled to more than $416 billion.
The company’s service department alone now generates revenues of more than $100 billion annually.
Earlier, Cook had dismissed speculations of his stepping down as ‘rumors’ and reiterated his commitment to leading the company. Speaking to ABC News, Cook said he has no plans to slow down his work.
When asked about reports of his stepping down from the post, he said, “No, I did not say that. It is just a rumour.”
–IANS
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