(NEW YORK) — Apple CEO Tim Cook is stepping down, with the company announcing on Monday that John Ternus will take his place as the head of the technology giant.
Cook will become the executive chairman of Apple’s board of directors, the company said. Ternus will officially become CEO on Sept. 1.
“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 on Monday.
“John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor. He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future,” Cook added.
Cook has served as Apple’s CEO since 2011.
This is a developing story. Please check back for updates.
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