Mint Explainer | Apple names new CEO: Decoding Cook’s tenure, Ternus’s prospects

Subscribe to enjoy similar stories.NEW DELHI: Apple on Monday named John Ternus, its vice-president of hardware engineering, as its next chief executive, succeeding Tim Cook. The transition was expected for later this year, but its timing—and Apple’s choice of a hardware leader—comes as artificial intelligence (AI) is reshaping Big Tech.The move signals Apple’s bet that tightly integrated devices will remain central to its strategy, even as rivals push ahead in AI.

Mint explains.Cook’s exit comes amid a broader wave of leadership transitions across Silicon Valley, though the moves are not directly related.Adobe chief Shantanu Narayen said on 12 March that he would step down, followed by Netflix cofounder Reed Hastings on 17 April.The shifts coincide with a pivotal phase for the tech industry, where AI is beginning to alter long-standing business models. Apple’s succession, however, was long in the works.

Ternus, who joined Apple in July 2001 and turns 51 this May, had been widely seen as Cook’s successor.Cook, who turned 65 last November, joined Apple in March 1998 and became full-time chief in August 2011 after three stints as interim chief during founder Steve Jobs’s battle against cancer.He is credited with building Apple’s outsourced supply chain in China and now India, and managing ties with governments including China, alongside more recent localization pressures from US president Donald Trump.When Cook took over, Apple reported $182.8 billion in annual revenue. By fiscal 2025 (October-September), revenue had reached $416.6 billion, with $112 billion in net profit.Under Cook, Apple became the first company to hit a $1 trillion valuation in 2018, $2 trillion in 2020 and $3 trillion in 2022.