Tim Cook will step down as Apple’s CEO later this year and be replaced by John Ternus, a senior vice president of hardware engineering, the technology company announced on Monday.
Cook will become executive chairman of Apple’s board of directors, replacing Arthur Levinson, the company said. Ternus, a 25-year Apple veteran, will assume the role of CEO on September 1, the company said.
“It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lead such an extraordinary company,” Cook said in a statement. “I love Apple with all of my being, and I am so grateful to have had the opportunity to work with a team of such ingenious, innovative, creative and deeply caring people who have been unwavering in their dedication to enriching the lives of our customers and creating the best products and services in the world.”
Cook also praised
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