Newsman: Tim Cook is stepping down after 15 years as Apple’s CEO with the company announcing on Monday. John Ternus will take his place as the head of the technology giant Apple. Ternus will officially become CEO on Sept. 1.
“I am profoundly grateful for this opportunity to carry Apple’s mission forward,” Ternus said.
“I am filled with optimism about what we can achieve in the years to come, and I am so happy to know that the most talented people on earth are here at Apple, determined to be part of something bigger than any one of us,” he said.
Ternus worked under Steve Jobs and referred to Cook as his mentor.
“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,” Cook said in a statement on Monday.
“John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor. He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future,” Cook added.
Tim Cook will become the executive chairman of Apple’s board of directors, the company said.
Cook has served as Apple’s CEO since 2011. The company said that under his leadership, Apple has grown from a market capitalization of approximately $350 billion to $4 trillion.
