American technology manufacturer, Apple, has announced that its chief executive officer, Tim Cook, will step down from the position on September 1, 2026, ending his 15-year tenure.
The company also confirmed that John Ternus, Apple’s senior vice president of hardware engineering, will take over from Mr Cook following unanimous approval of the appointment by the Board of Directors.
“Apple announced that Tim Cook will become executive chairman of Apple’s board of directors and John Ternus, senior vice president of Hardware Engineering, will become Apple’s next chief executive officer effective on September 1, 2026.
“The transition, which was approved unanimously by the Board of Directors, follows a thoughtful, long-term succession planning process,” Apple said.
Mr Cook became the CEO of Apple in 2011 following the resignation of the company’s late co-founder Steve Jobs and has been responsible for steering the affairs of the technology giant.
“Cook will continue in his role as CEO through the summer as he works closely with Ternus on a smooth transition. As executive chairman, Cook will assist with certain aspects of the company, including engaging with policymakers around the world,” Apple added.
“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,” Mr Cook stated, commenting on the opportunity to lead the 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.”