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.
At least four people died in Russian strikes on the Ukrainian port of Mykolaiv, officials said, as attacks were reported across Ukraine overnight. ...
Overnight Iranian strikes on an air base in Jordan damaged multiple U.S. aircraft and left one without a wing, American media reported. Meanwhile, ...
U.S. President Donald Trump has pledged to send every American adult a $5,000 payment if the Republicans keep control of the House of Represen...
Four people were killed, including a child, in Ukrainian strikes on the Russian port city of Novorossiysk overnight, according to the governor of the Krasnodar region. Ukraine's drone forces commander, Robert Brovdi, said Russian military ships were destroyed in the attacks.
A TV channel was struck during a live broadcast on Tuesday, Ukrainian President Volodymyr Zelenskyy said, as Russian strikes on Kyiv killed at least three people, the city's Mayor Vitali Klitschko said. Meanwhile, drones hit civilian infrastructure in Russia's southwestern Saratov region.
U.S. Central Command (CENTCOM) said its forces destroyed five Iranian crude oil carriers after the Islamic Revolutionary Guard Corps (IRGC) allegedly launched two ballistic missile attacks against a U.S. Navy warship over the past two days.
Wildfires have broken out in Türkiye’s Antalya province, forcing hundreds of people to evacuate as strong winds fuelled the flames.
Iran’s Revolutionary Guards (IRGC) said on Wednesday they attacked two U.S. vessels and eight oil tankers in the Persian Gulf, calling the strikes a response to a U.S. attack on five Iranian tankers.
Volkswagen’s supervisory board has approved a major overhaul aimed at cutting 100,000 jobs by 2030 as the German carmaker battles weaker sales, falling profits and intensifying global competition.
Chinese Premier Li Qiang has called on American companies to expand their presence in China and pledged that Beijing would address their "reasonable concerns," as China looks to stabilise trade ties with Washington ahead of President Xi Jinping's planned visit to the U.S. later this month
Apple is entering a new era as Tim Cook steps down as chief executive after 15 years at the helm, handing the technology giant's leadership to longtime executive John Ternus.
Volkswagen is heading towards a decisive showdown with labour representatives as Germany's largest carmaker weighs sweeping restructuring measures that could lead to factory closures and tens of thousands of job losses.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment