
Apple announced a huge leadership shake-up earlier today. Tim Cook will step down as CEO of the company he has headed for nearly 15 years on September 1st. That post will be filled by John Ternus, who has been with Apple for 25 years, essentially crafting out the modern product line itself. Cook is leaving down but will remain executive chairman, where he will oversee global policy and board activities.
Cook first joined the Apple team in 1998 and became CEO in 2011. During his tenure, the company’s market worth increased from approximately $350 billion to $4 trillion. Each year, the company’s income nearly quadrupled, 2.5 billion gadgets were distributed worldwide, and it even began offering services on a scale that exceeded several Fortune 500 corporations. New product lines, including as watches and earbuds, emerged, as did totally new modes of computing. Supply chains have stretched all over the world, and stores have arisen on every continent imaginable, but it’s the ordinary objects you carry in your pocket that truly tells the story.
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John Ternus, on the other hand, began working at Apple in 2001, a year after finishing his mechanical engineering degree. He joined the product design team and worked his way up the hardware engineering hierarchy. By 2013, he was a vice president in charge of all hardware engineering, and he was promoted to senior vice president eight years later. Almost every major device line released by Apple has gone through his teams, including every generation of iPad, multiple iPhone models, AirPods, Apple Watch, and the transition to the Mac’s custom chips, and in recent years his focus has been on using tougher materials, making them easier to repair and less harmful to the environment. He just delivered a large presentation last September to launch the new iPhone line-up, and those who know him claim he can tell right away whether a prototype is good enough.
During the announcement, Tim Cook praised his replacement, describing Ternus as a visionary with impeccable precision and a leader with a strong sense of purpose. Ternus hailed Cook as a mentor and discussed his time working for Steve Jobs. Both guys emphasized that there will be no significant shift in direction at Apple. The values that have guided the organization for 50 years remain in place. However, the fact that Ternus, a hardware expert, is going into the senior position suggests that there may be a modest shift in direction. You see, Cook’s path to success differs significantly from Ternus’. Cook came from an operational background, but Ternus has spent his whole career working directly with the products.
Anyone who has been following the company closely knows that the timing was not unexpected. Rumors about Cook’s plans had been circulating for months, and he had hinted in interviews that he would wait until the proper moment to act. September now gives those two leaders four months to work together harmoniously, and it appears Ternus will also join the board of directors. Arthur Levinson, who has led the board for nearly 15 years, is stepping down to become the lead independent director. Meanwhile, Johny Srouji, a long-time chip designer, has been promoted to chief hardware officer.
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