Tim Cook stepping down at Apple, John Ternus will become new CEO

The whispers were true. Long-time Apple CEO Tim Cook is stepping down in September of this year, and Apple Hardware lead John Tenrus will become CEO.

Apple announced the news that Cook would step back after 15 years as CEO on Monday, in a press release in which Cook said, "It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lead such an extraordinary company."

Of Ternus, he said, "John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor. He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future."

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