Tim Cook hands over Apple's $4 trillion reins to 'the perfect person for the job', hardware engineering SVP John Ternus

Tim Cook, chief executive officer of Apple Inc., beside an Apple Vision Pro mixed reality (XR) headset during the Apple Worldwide Developers Conference at Apple Park campus in Cupertino, California, US, on Monday, June 5, 2023. Apple Inc. will charge $3,499 for its long-awaited mixed-reality headset, testing whether consumers are ready to spend big bucks on a technology that the company sees as the future of computing. Photographer: Philip Pacheco/Bloomberg via Getty Images.

Tim Cook, 15-year CEO of Apple, has just handed the reins over to the company's hardware engineering senior vice president, John Ternus. In a 'community letter from Tim' to the 'Apple community', Cook explains:

"Over the coming months I will be transitioning into a new role, leaving the CEO job behind in September and becoming Apple’s executive chairman. A new person will be stepping into what I know in my heart is the best job in the world.