TechFlow News, April 21: According to JINSHI Data, Apple Inc. (AAPL.O) announced on Monday that John Ternus will succeed Tim Cook as CEO effective September 1, while Cook will transition to the role of Executive Chairman. Ternus, currently Senior Vice President of Hardware Engineering, will join Apple’s Board of Directors upon assuming the CEO role. Art Levinson, Apple’s Non-Executive Chairman, will become Lead Independent Director on the same day.
In a press release, Apple stated: “Cook will continue serving as CEO throughout the summer, working closely with Ternus to ensure a smooth transition.” This marks Apple’s first CEO succession since Cook assumed leadership from Steve Jobs in 2011—shortly before Jobs’ passing. Under Cook’s leadership, Apple’s market capitalization has grown approximately 24-fold, reaching $4 trillion at Monday’s closing.
