Apple Chief Tim Cook to Hand Over to John Ternus in September

Tim Cook, the long-serving CEO of Apple, is set to transition to the role of chair in September 2024. This change marks a significant leadership shift for the tech giant, as John Ternus, currently the head of hardware engineering, will take over as the new chief executive.

Cook has been at the helm of Apple since 2011, overseeing the company's expansion into new markets and the introduction of groundbreaking products, including the iPhone, iPad, and Apple Watch. Under his leadership, Apple has become one of the most valuable companies in the world, with a market capitalisation exceeding £2 trillion.

John Ternus has been with Apple for over two decades and has played a crucial role in the development of many of the company's key hardware products. His promotion to CEO is expected to bring a fresh perspective to Apple's strategic direction, particularly as the company continues to innovate in areas such as augmented reality and artificial intelligence.

The transition comes at a pivotal time for Apple, as it faces increasing competition in the tech sector and ongoing scrutiny regarding its market practices and product pricing. Analysts will be closely watching how Ternus's leadership style and vision will shape the company's future.

As Cook steps into the chair position, he is expected to focus on broader strategic initiatives while Ternus manages day-to-day operations. This leadership change reflects Apple's commitment to evolving its management structure while maintaining its reputation for innovation and quality.

Source: www.ft.com – https://www.ft.com/content/5b5a466c-fc48-429d-b505-2c81d87e3615