The elevation of John Ternus to CEO closes one chapter and opens another. The question is whether a product engineer can crack the AI problem that has dogged Cupertino for years Tim Cook's decision to move upstairs to executive chairman is, on one level, entirely rational.
He remembers what Steve Jobs told him 15 years ago. Now that Cook is stepping down, he has a message for his own successor.
Apple CEO Tim Cook is stepping down from the job that he inherited from the late Steve Jobs, ending a 15-year reign that saw the company's market value soar by more than $3.6 trillion during an iPhone-fueled era of prosperity.
A Wall Street analyst has maintained a bullish outlook on Apple (NASDAQ: AAPL) stock following the company's announcement of a major leadership change.
The departure of its chief executive is a verdict on where Apple stands in the AI race, and what it needs to become The official line from Cupertino is that Tim Cook's move to executive chairman follows a long-term succession plan, approved unanimously by the board. That framing is technically accurate and almost entirely beside the point.
Apple's planned handover to hardware chief John Ternus landed like a re-rating event for Asia's supplier base, especially the China-heavy names. Apple said on Monday that Tim Cook will become executive chairman and that Ternus will take over as chief executive on September 1, 2026.
Tim Cook had a highly successful tenure as Apple's CEO, but he leaves his successor with a big gap to fill when it comes to the company's position in AI. John Ternus, who was just named Apple's next CEO, will have to show investors how the company can win in AI, where it's been a laggard compared to its megacap peers.
Apple Inc (NASDAQ: AAPL) is in the spotlight this morning after the iPhone maker named John Ternus its next chief executive, set to replace Tim Cook on Sept. 1. Ternus, a 25-year Apple veteran and current SVP of hardware engineering, is broadly regarded as the product guy who's overseen the engineering of iPhone, iPad, and the transition to Apple silicon.
John Ternus is a hardware expert who must help Apple catch up in the AI race as it looks for its next big hit.
Apple CEO Tim Cook is stepping down as CEO in September. He won't be going far.
Tim Cook will be stepping down from his role as Apple CEO, to be replaced by John Ternus, the company has announced.
Apple announced an upcoming leadership change Monday (April 20), saying that John Ternus, senior vice president of hardware engineering, will succeed Tim Cook as CEO, effective Sept. 1. Ternus will also join the board of directors on that day.