"I'm excited to continue my journey at Apple as executive chairman," said Cook, 65. I am healthy. My energy is high, and I plan to be in this new role for a long time
Apple's next CEO John Ternus is a company veteran who rose through the iPhone maker's hardware engineering ranks but until now has maintained a low profile. Ternus will take over as chief executive in September for Tim Cook, who turned Apple into a USD 4 trillion tech colossus during his 15-year run after the death of co-founder Steve Jobs. Ternus faces challenges that will force him to step out of his comfort zone in hardware engineering. Beyond finding ways to keep Apple competitive in the artificial intelligence race, he will need to navigate supply chain questions and relationships with figures like President Donald Trump, who offered public praise for his predecessor on Tuesday. Although Cook is handing over the CEO reins at Apple, he is widely expected to help the Cupertino, California, company maintain a good relationship with Trump after he shifts over to his new role as executive chairman. Ternus, 50, has spent almost his entire career with Apple. He joined the company 25
Apple said that Cook's work will include engaging policymakers around the world
As Ternus assesses his management team, there's a broader concern. Another wave of longstanding executives could retire around the same time, and he'll have to find new ones
Ternus inherits a company that has already solved for size. The challenge now is to define Apple's next phase of growth
Apple also is betting that Ternus has a more decisive leadership style, something closer to that of co-founder Steve Jobs
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The outgoing CEO Tim Cook, who'll stay on as executive chairman, built up an unprecedented record of success over his tenure
Apple has announced Tim Cook's exit as CEO, marking the end of an era defined by major launches like AirPods, Apple Watch, and Apple Silicon Macs
The change aims to simplify the structure of his organisation, which will add thousands of employees and responsibility over the engineering of the iPhone, iPad, Apple Watch and other products
Cook, who took the CEO role from co-founder Steve Jobs in 2011, will stay with the company as executive chairman after the transition set to take place on Sept 1
Ternus, 50, has served as head of hardware engineering since 2021 and spent 25 years focused on product development at the iPhone maker
The CCI typically requires financial information from companies to calculate penalties when they are found to have contravened the law
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