Era change at Apple: Tim Cook will cease to be its chief executive officer
His place will be taken by the young promise John Ternus
BarcelonaSecond major change of guard at Apple, one of the most powerful technology companies. After the death of Steve Jobs in 2011, Tim Cook took the reins of the manufacturer of iPhones and Macintosh computers. Three lustrums later, the executive decides to step aside and will become executive chairman of the company, in a move announced months after turning 65. John Ternus, 51, will now be in charge of leading the company, in a change scheduled to take effect on September 1.
"It has been the greatest privilege of my life to be Apple's CEO and to be trusted to lead this extraordinary company. I love Apple with all my heart," declared the outgoing executive in a press release. Under his leadership, Apple has transformed into the most valuable company in the world. When he took office, the stock market capitalization was around 350 billion dollars, but today buying all its shares would cost more than 4 trillion. In fact, it was the first company to reach one trillion in capitalization (in 2018), two trillion (2020), and three trillion (2022).
On the other hand, regarding product launches, Cook has not shown the visionary capacity of his legendary predecessor, but he has shown a capacity for business order, execution of growth, and long-term vision that explains the current situation of the technology giant. And, despite having a more economic profile, during his reign, the Apple Watch, which has become the leading smartwatches on the market, and also the AirPods, the wireless in-ear headphones that have also set a trend, were launched.
An engineer as the new executive
The appointment of Termus suggests a certain will to put the product back at the center. Or so it can be interpreted from his figure, who has been key in the development of Apple's chips and various company devices. Since 2021, he was vice president of hardware engineering, a position that allowed him to lead the computer design of the brand's different devices, whether they were mobile phones, computers, watches, or headphones. He has worked at Apple since 2001.
One of the big unknowns he will have to clarify is whether he, coming from the physical side, intends to give the company a boost in the field of artificial intelligence. Apple was a pioneer in the field of electronic butlers with the Siri system, but has maintained a discreet activity while various players have taken positions in the generative AI market. One of the hypotheses that have circulated in the sector is that the next step – for a company that has been characterized by setting the standard in devices – will be to present some type of robot that incorporates artificial intelligence in a revolutionary way. The appointment of engineer Ternus would be consistent with this possibility.
Another thorn in the side are the Apple Vision Pro, which have not met expectations: their impact on the market has been discreet. On the other hand, the idea of a connected home, with devices and systems that further integrate the Apple ecosystem into daily and domestic life, is more promising.
"I assume this role with humility – explained the incoming executive –, and I promise to lead with the values and vision that have defined this very special position for half a century."
