Apple Announces Leadership Change: John Ternus to Succeed Tim Cook as CEO

04/20 21:46

On April 21, Apple (AAPL.O) announced on Monday that John Ternus will succeed Tim Cook as CEO effective September 1, with Cook transitioning to the role of Executive Chairman. Ternus, who is currently Senior Vice President of Hardware Engineering, will join Apple's board of directors upon becoming CEO. Art Levinson, the current non-executive chairman, will become the lead independent director on the same day. In a press release, Apple stated, 'Cook will continue to serve as CEO throughout the summer, working closely with Ternus to ensure a smooth transition.' This marks the first CEO transition at Apple since Cook took over from Steve Jobs in 2011, shortly before Jobs' passing. Under Cook's leadership, Apple's market value has increased approximately 24 times, reaching $4 trillion at Monday's close.

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