Apple appoints John Ternus as CEO, Tim Cook to become Executive Chairman
Apple has announced a major leadership transition, with the appointment of John Ternus as CEO from September 1. Tim Cook, who has held the position since 2011, will transition to the role of Executive Chairman and oversee the handover through the end of the summer. John Ternus, currently head of Hardware Engineering, will also join the Board of Directors, while Arthur Levinson will become Lead Independent Director.
This succession comes after nearly fifteen years of leadership characterized by explosive growth, during which Apple's market capitalization surged approximately 24-fold to reach 4 trillion dollars. Under the Cook era, the group diversified its operations with products such as the Apple Watch, AirPods and the Vision Pro headset, launched in 2024, although yet to achieve mass-market adoption. John Ternus, long regarded as a natural successor, has spearheaded the hardware development of most of the group's flagship products.
The incoming CEO will face several challenges, notably a more complex supply chain amid geopolitical tensions and semiconductor-related constraints.
Apple Inc. specializes in the design, manufacture and marketing of computer hardware and music supports. Net sales break down by family of products and services as follows:
- telephone products (50.4%): iPhone brand;
- peripheral devices (8.6%): screens, storage systems, printers, video camera, memory cards, server, switches, etc.;
- computers (8.1%): laptops (MacBook, MacBook Air and MacBook Pro brands) and PCs (iMac, Mac mini, Mac Pro and Xserve);
- music support (6.7%): music readers iPod and iPad and accessories;
- other (26.2%): software, maintenance service and Internet access service, etc.
Net sales are distributed geographically as follows: Americas (42.8%), China/Hong Kong/Taiwan (15.5%), Japan (6.9%), Asia/Pacific (8.1%), and Europe/India/Middle East/Africa (26.7%).
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