Apple announced late Monday that Tim Cook, the company’s CEO since 2011, is stepping down Sept. 1 to be replaced by current senior vice president of hardware engineering, John Ternus. Cook will become executive chairman of the board.
Cook, who is 65, will continue as CEO until the end of August to assist in the transition, which, Apple said, came after a “thoughtful, long-term succession planning process.”
“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, Cook said In the announcement about the changes. “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.”
