Thursday, 03 September 2026 · Europe
EUR/USD 1.158 EUR/GBP 0.8587 EUR/CHF 0.9424 EUR/PLN 4.327 All rates →
Sign in · Join
EUROPES The European Report
European Edition Thursday, 03 September 2026
LATEST Spanish wonderkid Jodar involved in testy exchange following shock US Open exit Le Flash →
Tech & Startups

Apple names hardware chief John Ternus as new CEO as Tim Cook steps down

Apple names hardware chief John Ternus as new CEO as Tim Cook steps down

Tim Cook has stepped down as Apple's chief executive to become executive chairman, handing the tech giant to hardware veteran John Ternus in a move that signals a renewed focus on physical devices during the artificial intelligence boom.

Tim Cook has stepped down as chief executive of Apple, handing the top role to hardware engineering chief John Ternus. Cook will remain with the technology giant as executive chairman, where he will continue to manage political relationships with the Chinese government and President Trump.

The elevation of Ternus indicates a strategic pivot back to physical product execution for the company. Under his hardware leadership, Apple recently released the ultra-thin iPhone Air, the lower-cost MacBook Neo, and AirPods with hearing health features.

This hardware-centric approach carries significant weight for European enterprise markets as the artificial intelligence era accelerates. Physical devices and custom silicon are becoming critical infrastructure for businesses running enterprise AI across the continent. The demand for this computing power already prompted Apple to accelerate the release of its Mac mini and Mac Studio models this year.

In a farewell memo to staff, Cook emphasized that the corporate culture remains the company's greatest asset. He highlighted the shared responsibility to improve the world, referencing Steve Jobs’ ambition to leave a dent in the universe. Cook noted that this purpose is what makes the organization extraordinary and drives the daily work of its employees.

Cook offered a strong endorsement of his successor, stating that few people match Ternus's ability to build world-changing products. He expressed excitement for the new leadership, telling employees he was handing the helm to someone brilliant and capable.

Although his title is changing, Cook insisted he is not leaving the company and remains completely at peace with the decision. Taking to the social platform X, he sent love to the Apple community and expressed endless gratitude for the privilege of serving as their leader. He added that his excitement for the next chapter remains high.

For investors and European regulators watching the transition, Cook’s continued presence as chairman ensures continuity in navigating complex global trade and digital market challenges. The operational shift to Ternus leaves the future of Apple's physical supply chain and device roadmap in the hands of its most experienced hardware builder.

More from Tech & Startups