Apple CEO Tim Cook to Step Down; John Ternus to Succeed

Apple's CEO will be replaced after 15 years. Current CEO Tim Cook will step down effective September 1st, with John Ternus, Senior Vice President of Hardware Engineering, taking over as the new CEO. The Apple Board of Directors unanimously approved the replacement of CEO Tim Cook and the appointment of Vice President John Ternus as CEO.

CEO Tim Cook will continue to support the company as Chairman of the Board.

New CEO John Ternus has extensive experience in hardware design and engineering. Tim Cook described Vice President Ternus as "the right person to lead the company, with the mind of an engineer, the soul of an innovator, and guided by integrity and honor." Ternus expressed his gratitude for having worked under Steve Jobs and Tim Cook, and stated his ambition to lead Apple into the future.