Apple's Cook hands CEO reins to Ternus, drops rare personal note at farewell
What's the deal? Tim Cook will officially step down as Apple's chief executive officer next Tuesday, handing the role to John Ternus, who currently leads Apple's hardware engineering. Cook will become executive chairman.
What happened at the send-off? Apple hosted a farewell party for Cook on Sunday at Apple Park, its Cupertino campus. Roughly 200 people, almost entirely employees, attended, with the band OneRepublicDealroom has a profile for this one. Try Dealroom → performing in the building's outdoor courtyard.
Who paid tribute? Speakers included Laurene Powell Jobs, wife of Apple co-founder Steve Jobs, and Jeff Williams, the former chief operating officer who retired last year. Eddy Cue, who leads Apple's services and health business, and Ternus also spoke.
A rare personal moment: In his remarks, Cook acknowledged his partner, Mike, by first name, according to a person familiar with the event. Cook rarely discusses his personal life publicly, aside from announcing he was gay in 2014.
What changes for Ternus? Little, for now. People familiar with Apple describe the handover with one word: continuity. Cook's executive assistant will work with Ternus going forward, two people familiar with the matter said.
What's Cook's new role? As executive chairman, Cook "will assist with certain aspects of the company, including engaging with policymakers around the world," Apple said in its announcement.
The signal: Apple is framing the leadership change as steady rather than a break. "The transition is going seamlessly, and I am beyond excited for John to step into his new role and lead Apple into its next era," Cook said at his final earnings call as CEO. How Ternus differs from Cook will emerge over the coming months and years.
Read more: The Information
Image credit: deerkoski
