Apple Names John Ternus CEO, Signals AI Focus
Apple appoints John Ternus as CEO, ending Tim Cook’s 13‑year reign and signaling a decisive shift toward artificial intelligence.
Cook assumed the chief executive role in 2011 after Steve Jobs stepped down, growing annual revenue from $108 billion to $416 billion in the latest fiscal year, according to Apple’s SEC filing.
Shares have surged more than 2,200 percent under Cook’s leadership, propelling the company to a $4.5 trillion market valuation.
Cook announced his departure on Aug. 31, saying, “Sending lots of love to the Apple community on my last day as CEO. My title changes tomorrow, but the love I have for the Apple community never will,” in a public statement.
The board announced Ternus’s promotion in April, naming him senior vice president of hardware engineering in 2021 and confirming he will remain executive chairman to handle global policy relations.
Ternus, who joined Apple’s product design team in 2001 and led hardware engineering since 2021, will steer the company into the AI era, a priority highlighted by recent product roadmaps.
He oversaw the development of signature products such as the AirPods, Apple Watch and Apple Vision Pro, and will now lead the upcoming launch of the iPhone 18 Pro and iPhone 18 Pro Max on Sept. 9.
“Having spent almost my entire career at Apple, I have been lucky to work under Steve Jobs and to have Tim Cook as my mentor,” Ternus said in an April statement after his Board of Directors appointment.
“I am humbled to step into this role and promise to lead with the values and vision that have defined this company for half a century,” he added.
Apple’s SEC filing details Ternus’s compensation: a $3 million salary, a $2.5 million restricted stock unit award, and a $55 million equity grant vesting in fiscal 2027, with 75 percent tied to Apple’s performance versus the S&P 500.
Cook will receive a $2 million salary and a $45 million equity award, half of which is linked to S&P 500‑relative stock performance, the filing shows.
The Associated Press contributed to this report.
