Apple has appointed a new CEO, with Tim Cook endorsing the decision by referencing Steve Jobs.

      John Ternus became Apple’s chief executive on Tuesday, making him the eighth person to fill this role in the company's 50-year history and the first engineer to do so since Steve Jobs.

      Tim Cook concluded his tenure by writing a message to the staff. Chance Miller acquired the memo for 9to5Mac on Monday, while Mark Gurman reported on it for Bloomberg the same morning.

      “Today is my last day as CEO of Apple,” he began. “This is a moment I always anticipated would come eventually, yet it’s still hard to believe it has arrived.”

      What Cook actually communicated in the memo mostly steered clear of topics like products, AI, China, or regulations, focusing instead on culture.

      “I take the most pride in what an annual report could never encapsulate,” Cook stated. “This place exemplifies the idea that culture prevails over everything.”

      He referenced company principles, noting that Apple has made its “dent in the universe,” as Jobs put it, “because of who we are and what we believe.”

      On the subject of his successor, Cook expressed clear confidence. He finds “enormous comfort in passing the reins to someone as brilliant and wonderful and capable as John” and added that few truly grasp what it takes to create transformative products the way Ternus does.

      Cook also emphasized that he isn’t leaving the company; he’s merely stepping away from his role, and he looks forward to seeing everyone at Apple Park in his new capacity.

      He later shared a post on X stating, “My title changes tomorrow, but the love I have for the Apple community will never wane.” This post garnered 24.2 million views, with Elon Musk offering his congratulations.

      The numbers he leaves behind are significant. Cook took over just after trading closed on August 24, 2011, when Apple’s value was below $350 billion. It now stands at about $4.6 trillion.

      Revenue saw a rise from $157 billion in his first full financial year, with expectations of reaching $477 billion by the end of this fiscal year in September. Services, a category that barely existed previously, generated over $109 billion in fiscal 2025, contributing more than a quarter of the company’s revenue.

      Ryan Vlastelica reported for Bloomberg that the share value surged by 2,258%, or 2,716% when dividends are considered. The published figures fluctuate between roughly 2,250% and 2,750% based on the calculation method, and Bloomberg made corrections throughout the day.

      Bank of America calculated that Apple added market value at about $32 million every hour, consistently, for nearly 15 years.

      Regarding Ternus, he is 51 years old and joined Apple in 2001 as an engineer at the age of 26, shortly after completing his mechanical engineering degree in Pennsylvania and spending four years at a smaller company.

      His initial project was the Cinema Display, a plastic desktop monitor. He worked on the G5-era iMacs, became vice president of hardware engineering in 2013, and has since contributed to every iPad generation, the first AirPods, and hardware for the iPhone, Mac, and Watch, including recent launches like the slim iPhone Air and the more affordable MacBook Neo.

      While he may not be a natural showman, Ternus is experienced on stage, having led product launches for years. TNW reported in July that he intends to expand Apple’s presence in film and TV, one of the few strategic areas he had previously discussed publicly before assuming leadership.

      In an address to engineering graduates at his alma mater in 2024, Ternus encouraged them to “always assume you’re as smart as anyone else in the room, but never assume you know as much as they do.” He recounted feeling uncertain about his place at Apple when he joined at 26, surrounded by individuals with far more knowledge than his own. He concluded his speech by urging graduates to go out and make a dent in the universe—two years later, his predecessor echoed that same phrase upon leaving.

      Ternus inherits a unique situation marked by notable turnover among executives, as reported by Kalley Huang for the New York Times. He has been actively bringing in his own people over the past four months. Laura Legros, a hardware engineering vice president who retired in 2022, has come back and now reports directly to him, according to three sources familiar with the situation. Nate Gatten joined from American Airlines to handle government affairs. This year has also seen retirements for Kate Adams and Apple Pay head Jennifer Bailey, with nearly half of the executive team approaching retirement age.

      Additionally, Apple has faced a talent drain, with over 400 former employees now engaged with OpenAI, according to Apple's own lawsuit. This year alone, leads from Apple's smart home and mixed reality divisions exited for Oura