Tim Cook, the tech boss who led Apple to become a $4 trillion company in its post-Steve Jobs era, is stepping down after 15 years in the top job. John Ternus, an Apple veteran of 25 years, who is currently the U.S. company’s Vice President of Hardware Engineering, will take over from September.
Cook, who joined Apple in 1998, said leading the California-based tech firm had been the honour of his life according to a statement released by Apple.
“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,” he said.
“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,” he added.
Cook, 65, will remain as CEO through summer to oversee the transition, before becoming Executive Chairman of Apple’s board of directors.
Ternus, 51, said he was looking forward to developing the company as its new CEO.
“I am profoundly grateful for this opportunity to carry Apple’s mission forward,” he said.
“Having spent almost my entire career at Apple, I have been lucky to have worked under Steve Jobs and to have had Tim Cook as my mentor. It has been a privilege to help shape the products and experiences that have changed so much of how we interact with the world and with one another,” Ternus added.
Cook steered Apple in the aftermath of the death of its co-founder and personal computer pioneer Steve Jobs in 2011.
Under Cook’s leadership, Apple’s market capitalisation grew from $350 billion to $4 trillion, while yearly revenues almost quadrupled from $108 billion to $416 billion, and the company spread to more than 200 countries and territories.
Cook was instrumental in the creation of Apple’s wearables category, such as the Apple Watch and Apple AirPods, which are now the world’s best-selling watch and headphones.
Ternus joined Apple’s product design team in 2001 and became Vice President of Hardware Engineering in 2013.
He played an essential role in the introduction of multiple new product lines, including the iPad and AirPods, as well as upgrading and improving existing items like the MacBook and iPhone.
The transition comes at a crucial time for Apple. After years on top of the most-valuable company scoreboard, Apple has lost its crown to artificial intelligence chipmaker Nvidia, as investors have fretted over its lack of innovation in the technology that is changing how people work, create and get information.
Integrating AI into the iPhone - the most successful consumer product in history - may be Ternus' hardest challenge according to analysts.
The International Organization for Migration (IOM) warns that nearly four million people have returned to Sudan in recent months, hoping to rebuild...
Lebanon’s Prime Minister Nawaf Salam said on Tuesday his government is not seeking a violent confrontation with...
China’s software and information technology services industry is on track to exceed 20 trillion yuan (around $2.9 trillion), underscoring the...
European Union envoys are set to approve a 20th package of sanctions against Russia, with Slovakia and Hungary expected to drop their opposition fo...
Afghanistan’s Minister of Industry and Commerce, Nooruddin Azizi, used a visit to Uzbekistan to press for easier trade and transit, focusing ...
The International Organization for Migration (IOM) warns that nearly four million people have returned to Sudan in recent months, hoping to rebuild their lives, but without urgent investment in basic services and infrastructure, these returns risk becoming unsustainable.
Lebanon’s Prime Minister Nawaf Salam said on Tuesday his government is not seeking a violent confrontation with the Iran-backed Hezbollah group.
European Union envoys are set to approve a 20th package of sanctions against Russia, with Slovakia and Hungary expected to drop their opposition following repairs to the Druzhba oil pipeline, EU diplomats said on Wednesday.
Afghanistan’s Minister of Industry and Commerce, Nooruddin Azizi, used a visit to Uzbekistan to press for easier trade and transit, focusing on boosting exports, establishing an export centre in Balkh, and strengthening regional economic ties.
Iran accuses the United States of breaching a ceasefire after a commercial ship was seized in the Gulf of Oman, vowing retaliation, as Israel warns south Lebanon residents to avoid restricted areas.
The architect of the modern K-pop boom, Bang Si-hyuk, is facing arrest by South Korean police over claims he illegally gained millions in an investor fraud scheme.
Progessive Bulgaria, led by pro-Russian Eurosceptic Rumen Radev is on track to form Bulgaria’s next government, after official results showed a runaway victory for the coalition in the Balkan nation's parliamentary elections on Monday (20 April).
Pakistan is confident it can bring Iran to talks with the United States, a senior official said, citing “positive signals” from Tehran, as JD Vance is reportedly set to visit Islamabad on Tuesday for peace talks, according to Axios.
A gunman who killed seven people in a mass shooting in Kyiv on Saturday (18 April) had quarrelled with his neighbour before he opened fire on passersby, public broadcaster Suspilne cited Interior Minister Ihor Klymenko as saying on Tuesday.
China's domestic automakers have a message for the boardrooms of premium German brands such as Porsche, Mercedes-Benz, and BMW: We are coming for your customers, and we are armed with superior technology at a fraction of the cost.
Netflix shares fell sharply on Friday after the streaming group issued a weaker-than-expected outlook and said chairman and co-founder Reed Hastings will step down from the board.
The Middle East crisis is reshaping transport choices worldwide, turning electric vehicles from a long-term climate goal into an immediate economic calculation.
China’s export growth slowed sharply in March, as the fallout from the Middle East conflict pushed up energy and shipping costs, weakening global demand and exposing risks in Beijing’s reliance on manufacturing to drive growth.
A French fashion label is placing China at the heart of its global ambitions, choosing Shanghai for its worldwide debut in a move that shows growing confidence in the country’s consumer market and cultural influence.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment