Tim Cook to step down as CEO of Apple: ‘the greatest privilege of my life’

Cook, who will assume the role of executive chairman, will be succeeded by John Ternus as CEO on 1 September

Apple announced on Monday that it had named a replacement for Tim Cook as CEO, with head of hardware engineering John Ternus to succeed him. Cook will stay at the company in the role of executive chair.

“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. I love Apple with all of my being,” Cook said in a press release.