Apple CEO Tim Cook is officially stepping down from his role on September 1, the company announced today, while current SVP of hardware engineering John Ternus will take over as the new CEO. Cook will transition to a new role as executive chairman of Apple’s Board of Directors. The company says the move was “approved unanimously” by Apple’s Board, and that Cook will work on transitioning his duties over the summer.
“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.
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