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Apple announces leadership change: Ternus takes over as CEO, Cook becomes Executive Chairman
Deep Tide TechFlow news. On April 21, according to Jinshi Data, Apple (AAPL.O) said on Monday that John Ternus will succeed Tim Cook as CEO on September 1, and that Cook will transition to Executive Chairman. After becoming CEO, Ternus, Senior Vice President of Hardware Engineering, will join the Apple Board of Directors. Art Levinson, Non-Executive Chairman of Apple, will become the Chief Independent Director on the same day.
In a press release, Apple said: “Cook will continue to serve as CEO throughout the summer, working closely with Ternus to ensure a smooth transition.” This is the first CEO handover at Apple since 2011, when Cook took over from Steve Jobs. Cook assumed the role shortly before Jobs’ death. Under Cook’s leadership, Apple’s market value increased by approximately 24 times, reaching $4 trillion by Monday’s close.