The Tim Cook era at Apple (AAPL 0.76%) will soon come to an end.
The consumer tech giant announced yesterday that Cook will continue as CEO through the summer before officially stepping down. Cook will become executive chairman of the company's board of directors on Sept. 1.
Cook became Apple's CEO in 2011 and, over 15 years, built a strong reputation. Shareholders have done incredibly well under Cook's tenure.
Just as Cook had big shoes to fill when taking over for former CEO and Co-Founder Steve Jobs in 2011, Apple's new CEO will face a similar test. The company has named John Ternus as the eighth CEO in its history.
Ternus, 50, is a 25-year veteran of Apple who has served as the senior vice president of hardware engineering and is viewed as the mastermind of some of Apple's most successful products.
Meet the man who will attempt to fill the big void being left by Cook.
A product legend
While Cook will be remembered as a logistics and supply chain expert who helped build the company's strong manufacturing setup in China, Ternus more closely resembles Jobs, who was also viewed as a visionary in building and releasing innovative products that helped define Apple.
While certainly not as well-known as Jobs, Ternus brings a strong product resume. He graduated from the University of Pennsylvania with a degree in mechanical engineering and joined Apple's product design team in 2001. He was quickly elevated to a manager role within just a few years, according to The New York Times.
Image source: Getty Images.
Throughout his career, Ternus proved instrumental in launching new product lines, such as the iPad and AirPods, and in introducing new models of the iPhone, Mac, and Apple Watch. Ternus and his team are also responsible for the iPhone 17 models, which have generated strong sales thus far.
Last year, Bloomberg reported that Ternus would take over leadership of the company's robotics team. 9To5Mac also reports that Ternus is expected to lead a big product launch with over 10 new Apple products, including its iPhone 18, come September.
Ternus' appointment is likely to be viewed positively by shareholders and other stakeholders who want to see continued improvements in Apple's current line of hardware, as well as new groundbreaking consumer products, which have been vital in making Apple the juggernaut it is today.
However, Ternus' hiring could also raise questions from shareholders who want Apple to focus more on artificial intelligence.
It's no secret that Apple's AI strategy has been far less aggressive than its "Magnificent Seven" peers, who have viewed AI as a once-in-a-lifetime opportunity and already spent hundreds of billions to build out AI infrastructure.
"Cook leaves a lasting legacy in Cupertino and there will be a lot of pressure on Ternus to produce success out of the gates, especially on the AI front," Wedbush analyst Dan Ives said in a research note.
