Historical change to Apple as Tim Cook grants CEO's position to John Ternus from September 1. Cook, who succeeded Steve Jobs in 2011, will take over as executive chairman of the board. Ternus, current senior vice president of hardware engineering, will join the board. During Cook's 15-year term, Apple's stock value multiplied 24 times, reaching $4 trillion. Cook described this period as the greatest privilege of his life, stressing his love for the company.
Analyticalally:
Historical change of leadership takes place in Apple, as new CEO takes over John Ternus, succeeding him Tim Cook in the position of CEO.
The change will enter into force from 1 September, as the technological giant announced today.
As Apple announced, Ternus will succeed Cook in the CEO position, while the latter will take the role of executive chairman of the board from 1 September. This is the first change at the top of the company since 2011, when Cook had taken over the reins after the Steve Jobs.Just before the company's co-founder died.
The new CEO, John Ternus
Ternus, who currently holds the post of senior vice president of hardware engineering, will also join Apple's board of directors on taking over his new duties. On the same date, the company's non-executive president, Arthur Levinson, will take office as head of an independent director.
In a communication, Apple noted that «Cook will continue to perform his duties as CEO until the end of summer, working closely with Ternus, to ensure a smooth transition to company leadership».
In a statement, Tim Cook described his term of office as the top moment of his professional course, stressing that «It was the greatest privilege of my life to be CEO of Apple and have been given the confidence to lead such an excellent company».
«I love Apple with all my existence and I am deeply grateful for the opportunity to work with a group of such intelligent, innovative, creative and deeply committed people who remained firm in their commitment to enrich the lives of our clients and create the best products and services in the world» Fill in.
During Cook's tenure, Apple's stock market value increased about 24 times, with the company closing on Monday with capitalization rising to $4 trillion. This development reflects the significant strengthening of Apple’s position in the global technology market, as well as the expansion of its product and service ecosystem.
The transition to leadership is considered key for the company's next development phase, as Apple continues to invest in new technologies and strengthen its presence in strategic areas of the digital economy.
