Apple Inc. announced today that Tim Cook will step down as CEO on September 1, 2024, transitioning to a new role as executive chairman of the company’s Board of Directors. John Ternus, Apple’s current Senior Vice President of Hardware Engineering, will succeed Cook as CEO.
The decision was approved unanimously by Apple’s Board, the company confirmed. Cook will begin transitioning his duties over the summer, ensuring a smooth leadership handover.
Tim Cook’s Statement on Leadership Transition
“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. 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.”
Key Details of the Leadership Change
- Effective Date: September 1, 2024
- New CEO: John Ternus (current SVP of Hardware Engineering)
- Cook’s New Role: Executive Chairman of Apple’s Board of Directors
- Board Approval: Unanimous decision
- Transition Period: Duties to be transferred over the summer
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