Apple Appoints New CEO To Replace Tim Cook

The move unanimously approved by the board, follows a long-term succession plan. Cook will remain CEO through the summer to ensure a smooth transition before shifting into his new role, where he will continue supporting the company, including engaging with global policymakers.

As part of the transition, Arthur Levinson will step down as non-executive chairman and become lead independent director, while Ternus will also join Apple’s board.

Cook, who joined Apple in 1998 and became CEO in 2011, has led the company through massive growth expanding its market value to around $4 trillion, significantly increasing revenue, and launching major products and services like Apple Watch, AirPods, Apple Vision Pro, iCloud, and Apple Pay.

Under his leadership, Apple strengthened its global presence, scaled its services business to over $100 billion, and made major strides in sustainability, privacy, and accessibility.

Ternus, who joined Apple in 2001, has played a key role in hardware innovation across products like iPhone, Mac, iPad, and Apple Watch.

Read Also - VisioLab Raises $11M Series A To Expand AI Self-Checkout Systems Globally

As Senior Vice President of Hardware Engineering, he has led advancements in product design, performance, and sustainability, helping shape Apple’s next generation of devices.

“Tim’s unprecedented and outstanding leadership has transformed Apple into the world’s best company. He’s introduced groundbreaking products and services time and again, and his integrity and values are infused into everything Apple does,” said Levinson.

“On behalf of the entire board of directors, we are incredibly grateful for his countless contributions to Apple and the world, and we are thrilled he will now be executive chairman. We believe John is the best possible leader to succeed Tim and as he transitions to CEO we know his love of Apple, his leadership, deep technical knowledge, and relentless focus on creating great products will help lead Apple to an extraordinary future.”

“I want to thank Art for the incredible work he has done leading the board of directors for the past 15 years,” said Cook. “I have always found his advice to be invaluable and I appreciate his thoughtfulness and his unwavering dedication to the company. I am grateful he will serve as our lead independent director, and I look forward to working with him in my new role.”