Apple is getting a new CEO.
Apple announced Monday that CEO Tim Cook will be stepping down, assuming the role of executive chairman on Sept. 1. Cook, who served as CEO for nearly 15 years, will be replaced by John Ternus.
John Ternus, Apple's senior vice president of hardware engineering, will replace Cook as Apple's chief executive officer.
Apple's corner office has been a seat from which executives like Steve Jobs changed how we interact with technology.
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John Ternus, Apple's senior vice president of hardware engineering, will assume the CEO role in September.
The longtime Apple insider is succeeding Tim Cook, who will become executive chairman.
Apple announced on Monday that Tim Cook, who has served as Apple's CEO since 2011, will step down. Cook was the direct successor as Apple CEO after Steve Jobs, who resigned due to health issues.
Apple said on Monday that John Ternus is succeeding Tim Cook as CEO, with Cook assuming the role of executive chairman on Sept. 1.
The hierarchy of the tech world is undergoing a seismic shift. For years, Apple Inc (NASDAQ: AAPL) has reigned supreme as the ultimate titan of the consumer era, currently sitting on a staggering market capitalization of about $4 trillion.
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