Apple’s new CEO, John Ternus, officially took the helm of the global tech giant on Tuesday, September 1st, succeeding Tim Cook who had served as CEO for 15 years.
In his farewell letter, Cook expressed gratitude to the employees for their contributions and paid tribute to the late Apple co-founder Steve Jobs, stating, “As Steve [Jobs] once described, we have made it possible to ‘put a dent in the universe’.”
He also took to the social media platform X to express gratitude to Apple users worldwide, calling them his “inspiration.”
Under Cook’s leadership, Apple’s market value has surpassed $4.5 trillion.
Ternus, who joined Apple’s design team in 2001, has been promoted to Senior Vice President of Hardware Engineering.
The CEO transition comes at a critical moment for Apple as the company faces multiple challenges. Ternus, who has been involved in the development of Apple’s flagship products including the Apple Watch, AirPods, and Apple Vision Pro under Cook’s leadership, now needs to step out of his comfort zone in hardware engineering.
Since Steve Jobs introduced the first iPhone in 2007, artificial intelligence has sparked the largest industry transformation ever. However, Apple’s progress in the field of artificial intelligence has not been smooth. Earlier this year, the company unveiled its latest advancements in the field, including upgrades to the Siri voice assistant, emphasizing a focus on privacy protection and everyday functionality to keep up with competitors in the same arena.
In addition to ensuring Apple’s competitiveness in the artificial intelligence race, Ternus also faces challenges in addressing tight supply chains and the need for interpersonal communication and coordination skills to navigate complex geopolitical situations.
Although stepping down as CEO after nearly 30 years at Apple, Cook will continue to serve as the company’s executive chairman, allowing him more time to enjoy his personal life.
The newly appointed Ternus is expected to host Apple’s first iPhone launch event next week at the company’s headquarters in Cupertino, California, where the market anticipates the release of the first foldable iPhone.