One of the great management careers comes to an end: the 65-year-old CEO of the Apple Group, Tim Cookwill step down in September and leave the leadership role to the long-time head of hardware development, John Ternus (50). The company announced this on Monday.
As Executive Chairman, Cook will continue to support Apple, particularly in communicating with policymakers around the world. “It has been the greatest privilege of my life to be CEO of Apple,” shared Cook: “I love Apple from the bottom of my heart.” John Ternus has the mind of an engineer, the soul of an innovator and the heart to lead with integrity and decency, Cook continued. Important product groups such as iPads, AirPods, many generations of Mac, Apple Watch and iPhone have been developed under Ternus’ leadership.
“I am honored to take on this role and promise to lead with the values and vision that have shaped this special place for half a century,” said the 50-year-old manager, commenting on his appointment as Apple boss.
Under Cook, Apple’s market capitalization grew to $4 trillion
Cook joined Apple in 1989. In 2011, shortly before the death of Apple co-founder Steve Jobs, he succeeded him and in the following years, with perfectionism and cool precision, turned the company into one of the most profitable companies in the world. Under Cook’s leadership, Apple’s market capitalization grew from around $350 billion to $4 trillion, an increase of more than 1,000 percent. Annual sales have quadrupled since 2011 to more than $416 billion in fiscal year 2025.
Ternus joined Apple’s product design team in 2001 and became vice president of hardware engineering in 2013. In 2021, he joined the leadership team as Senior Vice President of Hardware Engineering.
