Overview
- Apple said Monday it will hand the CEO job to hardware chief John Ternus on September 1, with Tim Cook becoming executive chairman.
- The board approved an internal handover that analyst Dan Ives described as a sudden change.
- Under Cook, Apple’s market value climbed above $4 trillion and high‑margin services such as the App Store, Apple Music, Apple TV+ and iCloud grew to about a quarter of revenue.
- Ternus has led hardware for the iPhone, Mac and Apple Watch and helped drive the move to Apple‑designed chips that boosted Mac performance.
- He faces pressure to close Apple’s AI gap, with Apple’s Worldwide Developers Conference in June seen as the first test of progress on smarter Siri features and on‑device AI.