End of an Apple era: Tim Cook to step back, John Ternus named CEO
Source: Mashable Tech
Announcement
Tim Cook, age 65, announced that he will step back this fall to become executive chairman of Apple. The company also named the new chief executive: John Ternus, Senior Vice President of Hardware Engineering.
The transition from the Cook era to the Ternus era was approved unanimously by the Apple board.
Cook’s Remarks
“I love Apple with all of my being,” Cook wrote in the announcement, before praising his successor.
“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 also assured investors that he will remain involved:
“I look forward to working closely with [Ternus] on this transition and in my new role as executive chairman.”
The announcement, which highlighted Cook’s achievements—including the reduction of Apple’s carbon footprint—spent most of its paragraphs (nine out of fourteen) on his legacy.
Ternus’s Statement
“I have been lucky to have worked under Steve Jobs and to have had Tim Cook as my mentor. I am humbled to step into this role, and I promise to lead with the values and vision that have come to define this special place for half a century.”
Ternus added that he was “filled with optimism about what we can achieve in the years to come.”
Market Reaction
Apple’s stock dipped in after‑hours trading following the announcement of Cook’s retirement, but the loss was largely recovered within an hour.
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