John Ternus Named Apple CEO, Tim Cook Moves to Chairman

Apple just dropped the biggest leadership shakeup in over a decade. John Ternus, currently senior vice president of Hardware Engineering, will step into the CEO role on September 1. Tim Cook isn't leaving — he's sliding into the executive chairman seat on Apple's board.

The transition marks the end of Cook's run as chief executive, a tenure that transformed Apple into the world's most valuable company. Ternus, a hardware guy through and through, has been the driving force behind Apple's physical product lineup.

His promotion signals Apple is betting its future on the next generation of devices. The September 1 handoff gives both executives a clean transition window.

Cook as executive chairman keeps his institutional knowledge in the room. But make no mistake — this is Ternus's Apple now.