Apple has confirmed a management transition. John Ternus has officially assumed the role of CEO, succeeding Tim Cook, who led the company for 15 years. This was announced on Apple's official website.

Ternus has been with the company since 2001 and prior to his appointment, served as Senior Vice President of Hardware. In this role, he oversaw the development of Apple's key products—iPhone, iPad, Mac, Apple Watch, and AirPods. The new CEO graduated from the University of Pennsylvania with a degree in mechanical engineering.

Tim Cook is not leaving the company entirely; he will take over as executive chairman of the board and, according to Apple, will continue to focus on specific areas of work, including engaging with political leaders around the world. Cook took over as CEO of Apple in 2011, succeeding founder Steve Jobs. During his tenure, Apple's market capitalization grew from 350 billion USD to approximately 4,6–4,7 trillion USD.

Under John Ternus, the company is expected to sharpen its focus on developing artificial intelligence technologies, an area in which Apple has recently been criticized for lagging behind competitors including OpenAI and Anthropic. As Bloomberg reports, Ternus also plans to strengthen the role of the industrial design team, restoring its status as one of the key decision-making centers within the company.

Apple shares rose 2,2% on Tuesday following the official announcement of the management change.