Apple names next CEO; Tim Cook to become chairman

Apple Inc. named hardware chief John Ternus as the iPhone maker’s next leader, with Chief Executive Officer Tim Cook shifting to the role of executive chairman.

Ternus will become CEO on Sept. 1, the company said in a statement Monday. The Apple veteran was head of hardware engineering since 2021 and has spent 25 years focused on product development at the iPhone maker.

Ternus’ purview over hardware will be assumed by longtime chip chief Johny Srouji, who is being named chief hardware officer and will oversee hardware engineering and silicon development.

“John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor,” Cook said in a statement. “He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future.”

In the new executive chairman role, Apple said that Cook would be engaging with policymakers around the world. The 65-year-old CEO already oversees Apple’s relationship with President Trump.

Gurman writes for Bloomberg.