Apple has a new chief executive. John Ternus, the company’s long-time head of hardware engineering, takes over as CEO on Tuesday, September 1, succeeding Tim Cook, who becomes executive chairman of the board after 15 years in the top job.
The handover was announced in April, when Apple said its board had unanimously approved Ternus as the company’s eighth CEO. His first major test comes quickly: Apple’s annual iPhone launch event is expected within days.
Who is John Ternus?
Ternus has spent almost his entire career at Apple. He joined the product design team in 2001, became a vice president of hardware engineering in 2013 and joined the executive team in 2021 as senior vice president of hardware engineering. In that role he oversaw the engineering of products including the iPhone, iPad and Mac, and he became a familiar presenter at Apple’s launch events.
When the succession was announced, Ternus said he had “spent almost my entire career at Apple” and was “humbled to step into this role.”
Tim Cook’s legacy
Cook joined Apple in 1998 and became CEO in 2011, succeeding co-founder Steve Jobs. Under his leadership, Apple’s market value grew from about $350 billion to around $4 trillion. He expanded the business beyond hardware into a large services operation spanning the App Store, iCloud, Apple Music, Apple Pay and Apple TV+, and steered the company through major supply-chain shifts.
“It has been the greatest privilege of my life to be the CEO of Apple,” Cook said, adding that he loves the company “with all of my being.”
As executive chairman, Cook will remain closely involved in the company’s direction.
The challenges waiting for Ternus
The new CEO inherits a company that is enormously profitable but under pressure on several fronts:
- Artificial intelligence: Apple is racing to show that its AI features and a revamped Siri can compete with rivals that moved faster.
- Costs and supply: Strong demand for AI chips has tightened supply of components, and Apple has pointed to chip shortages when explaining recent price increases.
- New categories: Analysts expect Apple to unveil its first foldable iPhone, a high-stakes bet on a new form factor.
Having an engineer at the helm signals that Apple intends to keep hardware innovation at the centre of its strategy. Investors and customers will get their first clear look at what that means at the company’s September launch.